Export of iron ore to Europe from Russia fell four times over the year

At the end of 2022, the export of iron ore concentrate and pellets from Russia to Europe decreased by 4 times, to 2.9 million tons, despite the absence of sanctions. It is reported Vedomosti with reference to the industry agency Metals & Mining Intelligence (MMI). According to him, the export of concentrate decreased by 8.5 times, to 0.2 million tons, pellets – by 3.7 times, to 2.7 million tons, hot briquetted iron (HBI) – by 7%, to 2.5 million tons. t.

The total volume of exports of iron ore concentrate and pellets from Russia fell by 39%, to 13.6 million tons. Export of pellets from Russia to China increased 3 times, to 1.5 million tons. The export of Russian iron ore concentrate to the country decreased by 2.5 % to 7.8 million tons. MMI claims that the mining and processing plants of the Central European part of the Russian Federation, focused on deliveries to Europe, have not been able to completely reorient their volumes to the Chinese market.

A representative of Severstal told Vedomosti that before the imposition of sanctions against the main shareholder Alexei Mordashov, the company supplied pellets to Europe, mainly to Finland. But after the imposition of sanctions, these supplies stopped, he said. What were the volumes of deliveries, he did not say.

Earlier, the WorldSteel Steel Association (WSA) improved its forecast for steel demand in Russia. Instead of a 20% drop in consumption in 2022, experts expected a 6% drop. But in 2023, instead of stagnation in the previous forecast, the WSA expects demand to decline by 10% due to the projected tightening of anti-Russian sanctions.

Details – in the material “Kommersant” “Steel failed expectations”.

Laura Keffer