Russian Federation: Market for Flat-Rolled Products Of Silicon-Electrical Steel 2025

Market Size for Flat-Rolled Products Of Silicon-Electrical Steel in the Russian Federation

The Russian silicon-electrical steel flat-rolled product market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption, however, continues to indicate a abrupt descent. Silicon-electrical steel flat-rolled product consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Flat-Rolled Products Of Silicon-Electrical Steel in the Russian Federation

In value terms, silicon-electrical steel flat-rolled product production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt contraction. Silicon-electrical steel flat-rolled product production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Flat-Rolled Products Of Silicon-Electrical Steel

Exports from the Russian Federation

In 2021, the amount of flat-rolled products of silicon-electrical steel exported from Russia declined to X tons, reducing by -2.2% on 2020. Overall, exports showed a slight downturn. The pace of growth appeared the most rapid in 2017 with an increase of 27% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, silicon-electrical steel flat-rolled product exports soared to $X in 2021. Over the period under review, exports recorded a perceptible shrinkage. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Turkey (X tons) was the main destination for silicon-electrical steel flat-rolled product exports from Russia, with a 29% share of total exports. Moreover, silicon-electrical steel flat-rolled product exports to Turkey exceeded the volume sent to the second major destination, India (X tons), threefold. Belgium (X tons) ranked third in terms of total exports with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey stood at +15.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+3.8% per year) and Belgium (+6.8% per year).

In value terms, Turkey ($X) remains the key foreign market for flat-rolled products of silicon-electrical steel exports from Russia, comprising 29% of total exports. The second position in the ranking was held by India ($X), with a 13% share of total exports. It was followed by Belgium, with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Turkey totaled +13.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+2.7% per year) and Belgium (+12.3% per year).

Export Prices by Country

In 2021, the average silicon-electrical steel flat-rolled product export price amounted to $X per ton, with an increase of 52% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2012; afterwards, it flattened through to 2021.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Tunisia ($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 Belgium (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flat-Rolled Products Of Silicon-Electrical Steel

Imports into the Russian Federation

Silicon-electrical steel flat-rolled product imports into Russia contracted notably to X tons in 2021, reducing by -19.4% compared with 2020. In general, imports saw a deep slump. The most prominent rate of growth was recorded in 2017 with an increase of 140% against the previous year. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, silicon-electrical steel flat-rolled product imports contracted notably to $X in 2021. Over the period under review, imports recorded a abrupt setback. The pace of growth was the most pronounced in 2017 when imports increased by 135% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The Netherlands (X tons), Austria (X tons) and Germany (X tons) were the main suppliers of silicon-electrical steel flat-rolled product imports to Russia, together accounting for 95% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +64.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest silicon-electrical steel flat-rolled product suppliers to Russia were Austria ($X), the Netherlands ($X) and Germany ($X), together accounting for 96% of total imports.

Among the main suppliers, the Netherlands, with a CAGR of +46.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average silicon-electrical steel flat-rolled product import price stood at $X per ton in 2021, almost unchanged from the previous year. Over the period under review, the import price recorded a noticeable descent. The pace of growth appeared the most rapid in 2019 an increase of 16%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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 Austria ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+2.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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