MOSCOW Rolled product exports for Russias principal Russian steelmakers fell 11.5 percent year on year to 1.87 million tonnes in October, industry group Russian Steel said Monday.
Russian steelmakers are targeting the domestic market, where demand is relatively strong compared with weak export markets.
Domestic sales are also more profitable, as Russian companies largely sell higher-value-added materials in the home market while sending semifinished and lower-value-added steels abroad.
Russian Steel, a not-for-profit partnership of steel producers, collects production and sales data from member companies such as Moscow-based Evraz Group SA, Lipetsk, Russia-based Novolipetsk Steel, Magnitogorsk, Russia-based Magnitogorsk Iron & Steel Works, Moscow-based Mechel OAO and Moscow-based Metalloinvest Holding Co.
October export volumes fell 4.5 percent from the previous month, Russian Steel said.
But total exports for the first 10 months of the year stood at 20.1 million tonnes, up 8 percent year on year.
The steelmakers sold 2.63 million tonnes of rolled products on the domestic market in October, up 2 percent year on year but down 5 percent month on month, Russian Steel said.
Total domestic sales for the first 10 months of the year reached 26.6 million tonnes, up 1.5 percent year on year.
Rolled steel production stood at 4.5 million tonnes in October, down 4 percent year on year and 5 percent month on month.
Steel product output for the first 10 months of the year rose 4 percent to 46.7 million tonnes.
Russian Steel also revised its September projections for total steel production downward by 3 percent to 4.73 million tonnes. It expects total domestic sales to fall 5 percent to 2.77 million tonnes and export sales to fall 1 percent to 1.96 million tonnes.
A version of this article was first published by AMM sister publication Steel First.