Russia: Billet exports rebound m-o-m in Jul'21 on active ex-China buying

Russia, one of the major exporters of steel billet, recorded a whopping 168% m-o-m growth in its overseas sales of the material in Jul'21. The export volumes stood at 3 million tonnes (mn t) in Jul'21 compared to 1.12 mn t seen in Jun'21, as per data maintained with SteelMint.

Mexico, Belgium leading billet importers

The key reason for the rebound in exports in Jul'21 was active ex-Chinese buying.

Mexico, outstripping Turkey and Taiwan, acquired the top position in shipments of steel billets from Russia at 0.86 mn t in Jul'21, witnessing a manifold increase m-o-m as against 0.04 mn t in Jun'21.

Belgium emerged as the second-largest importer of steel billet from Russia in Jul'21 with 0.58 mn t followed by Turkey and Taiwan with 0.47 and 0.36, respectively. Export volumes from Russia to Turkey and Taiwan witnessed a m-o-m increase of 149% and 9%, respectively in Jul'21.

Exports up y-o-y in Jan-Jul'21

Exports of the material from Russia in Jan-Jul'21 stood at 10.2 mn t, a significant increase of 22% as compared to 8.3 mn t in Jan-Jul'20.

Considering y-o-y, Taiwan was the largest importer of steel billets with 1.9 mn t in Jan-Jul'21 followed by Mexico, Belgium and Turkey with 1.8 mn t (up 53%), 1.6 mn t (up 74%), and 1.3 mn t (up 137%), respectively.

Price trends

SteelMint's export price assessment of Russian billets (130*130mm, 3SP) fell to $647/t, FOB Black Sea, towards end-Jul'21 after peaking to $700/t CFR levels in mid-May'21.