According to the data released by the Russian Federation's Federal Customs Service, in January 2008 Russia exported 2.36 million metric tons of ferrous metals (excluding pig iron, ferroalloys and scrap) - up 5.8 percent, 249,700 metric tons of pig iron - down 38 percent, 51,800 metric tons of ferroalloys - up 46 percent, 1.33 million metric tons of semi-finished steel products - up 10.8 percent, 718,300 metric tons of flat rolled products - up 10 percent, 1.59 million metric tons of iron ore and concentrate - down 28 percent, and 210,000 metric tons of coke and semi-coke - up 11.6 percent, all compared to corresponding period of 2007.
During the period in question, Russia decreased its ferrous metal imports (excluding pig iron, ferroalloys and scrap) by 4.2 percent and its steel pipe imports by 17.9 percent year on year, to 320,700 metric tons and 80,300 metric tons respectively.
The favorable situation of growth in the international steel market positively impacted the export of value added steel products from Russia during the first month of 2008. The trend is especially visible in flat rolled steel exports, which showed an increase for the first time after slipping throughout the whole of 2007. In addition, during January 2008 a slowdown in exports of semi-finished and raw materials can be seen.
As for steel imports, a downward tendency in Russia's steel imports is noted in the abovementioned data. This decrease trend resulted from self-limitation in exports of Russia's main import source countries, such as Ukraine (in rebar and some types of flat steel) and China (in pipes).