14 Jun 2022 17:42

Russia could cut steel exports 23% in 2022 - NLMK

MOSCOW. June 14 (Interfax) - Russia could cut steel exports 23% in 2022, a spokesperson for NLMK , one of Russia's biggest steel companies, told Interfax.

The biggest drop, 40%-50%, will be for roll.

"The substantial decrease for rolled products is due to the fact that this type of metal product is already subject to restrictions in Europe, where most of it has been supplied. Redirecting rolled products to other markets is more difficult than redirecting semis due to other restrictions: duties, quotas and others," NLMK said.

"Slab exports might also decrease in H2 2022 due to a price correction in the iron ore and steel markets, which will lead to lower prices for slabs in China amid still-high logistics costs," it said.