Russian ferrous products exports decreased in the first half of the year, according to the country’s federal customs data monitored by Kallanish.

Six-month exports of ferrous products under HS code 72 were 20.618 million tonnes, down by -2.9% on-year.

However, exports of ferrous products under HS code 72 but excluding pig iron, ferroalloys, waste and scrap amounted to 14.3mt in January-June, up by 3% on-year. This suggests exports of finished steel increased in H1.

Deliveries of semi-finished products increased by 1.3% on-year in H1 to 7.686mt. Flat products exports grew by 8.3% to 3.279mt. Exports of pig iron, however, decreased -28%.

Russian ferrous imports decreased -30.8% on-year over January-June to 2.507mt (see Kallanish passim).

Earlier, Standard & Poor’s downgraded its outlook on several Russian steelmakers, reflecting the impact of Covid-19 and prevention measures that are weakening steel demand and production. “Although domestic prices in Russia reflect international ones, domestic premiums could diminish,” S&P said, adding that companies will need to cut production amid unknown demand.

Evraz said it predicts a decrease in demand for construction steel in Russia by more than -10% on-year in 2020.