According to the data issued by the Russian Special Steel and Alloys Consumers and Suppliers Association (Spetsstal), during the first ten months of this year Russia's output of stainless steel products decreased by 49.4 percent to 56,500 mt, its exports of stainess steel products went down by 50.2 percent to 4,600 mt, while its imports of the products in question declined by 47.6 percent to 70,900 mt, all compared to the same period last year.
"For the Russian stainless steel market, the current year could be certainly called a failure," reads the company's statement.
In addition, in January-October this year, Russia's apparent consumption of stainless steel products amounted to around 122,800 mt - down 48.4 percent year on year. Spetsstal notes that in 2009 the country's total stainless steel product consumption will not exceed 180,000 mt, compared to 300,000 mt in 2008.
Meanwhile, according to the International Stainless Steel Forum (ISSF), in 2009 the world's stainless steel crude steel production is expected to decrease by 12 percent year on year to about 23 million mt. In H1 2009, the world's stainless crude steel production decreased by 26.7 percent year on year to 10.8 million mt. All major regions showed lower production volumes in the first half year of 2009, excepting China which reported an increased production volume during the period.