Russian stainless steel imports increase in May

13 July 2021

According to statistics from the Russian Special Steel and Alloys Consumers and Suppliers Association (USSA), in May, Russia's stainless steel imports increased by 23.3% month on month and 22.9% year on year to around 40,100 tons, and China once again became the main supplier, accounting for 55.8% of the total. 

On the one hand, it was also because China announced the cancellation of export tax rebates for some steel products from May 1, which led to an increase in exports. However, this measure might reduce China's share of stainless steel exports to Russia, which will benefit Taiwan, Indonesia, India, and South Korea.