Russian Federation: Hot-Rolled Steel Products Market 2025

Hot-Rolled Steel Products Market Size in the Russian Federation

In 2021, the Russian hot-rolled steel products market decreased by -0.4% to $X, falling for the second consecutive year after three years of growth. Overall, consumption continues to indicate a mild contraction. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Hot-Rolled Steel Products Production in the Russian Federation

In value terms, hot-rolled steel products production rose sharply to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a slight slump. The pace of growth appeared the most rapid in 2017 when the production volume increased by 42%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Hot-Rolled Steel Products Exports

Exports from the Russian Federation

In 2021, overseas shipments of flat-rolled products of iron or steel (not further worked than hot-rolled) increased by 26% to X tons, rising for the second consecutive year after three years of decline. The total export volume increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when exports increased by 39%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, hot-rolled steel products exports surged to $X in 2021. In general, exports enjoyed a perceptible expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey (X tons) was the main destination for hot-rolled steel products exports from Russia, accounting for a 20% share of total exports. Moreover, hot-rolled steel products exports to Turkey exceeded the volume sent to the second major destination, Poland (X tons), twofold. The third position in this ranking was held by Italy (X tons), with a 7.8% share.

From 2012 to 2021, the average annual growth rate of volume to Turkey amounted to +12.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+16.1% per year) and Italy (-0.6% per year).

In value terms, Turkey ($X) remains the key foreign market for flat-rolled products of iron or steel (not further worked than hot-rolled) exports from Russia, comprising 22% of total exports. The second position in the ranking was held by Poland ($X), with a 9.4% share of total exports. It was followed by Vietnam, with an 8.2% share.

From 2012 to 2021, the average annual growth rate of value to Turkey amounted to +15.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+19.3% per year) and Vietnam (+15.1% per year).

Export Prices by Country

The average hot-rolled steel products export price stood at $X per ton in 2021, surging by 63% against the previous year. Over the period under review, export price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Belarus ($X per ton), while the average price for exports to Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+3.9%), while the prices for the other major destinations experienced more modest paces of growth.

Hot-Rolled Steel Products Imports

Imports into the Russian Federation

In 2021, hot-rolled steel products imports into Russia skyrocketed to X tons, increasing by 28% compared with 2020. In general, imports posted a modest expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 89%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, hot-rolled steel products imports soared to $X in 2021. Overall, imports saw slight growth. The most prominent rate of growth was recorded in 2017 when imports increased by 119%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Kazakhstan (X tons), Ukraine (X tons) and Sweden (X tons) were the main suppliers of hot-rolled steel products imports to Russia, together comprising 91% of total imports.

From 2012 to 2021, the biggest increases were recorded for Kazakhstan (with a CAGR of +14.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hot-rolled steel products suppliers to Russia were Kazakhstan ($X), Ukraine ($X) and China ($X), with a combined 82% share of total imports.

Among the main suppliers, China, with a CAGR of +20.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average hot-rolled steel products import price stood at $X per ton in 2021, jumping by 45% against the previous year. In general, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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