Iran is the thirteenth consumer of Russian steel Visit: 363
Russians have 150 customers
Last year, Russia was the fourth largest steel exporter in the world, but the value of its exports fell due to the drop in world oil prices in 2015.
The study of the Russian steel industry continues with the study of the country's main export markets and Iran's share of the market. As stated in previous reports, Russia is the fourth largest exporter of steel in the world and its products are exported to 150 countries, but the share of ten countries in this market is 66%. Ten countries that attract the largest share of Russia's export products include Turkey, Taiwan, Mexico, Belgium, Egypt, Kazakhstan, Italy, Belarus, Germany, and eventually the United States. Turkey has the largest share among these countries, due to the warmth of the political relations between Turkey and Russia in recent years and the efforts to increase their cooperation can also be sought in the importance of the economic interactions of the two countries.
Last year, Turkey absorbed 18% of Russia's steel exports, equivalent to 4.2 million tonnes, while Taiwan accounted for 10%, Mexico and Belgium each with a share of 7%, respectively 2.3 million tonnes and 1.7% and 1.5 million tonnes of steel Russia imported. The United States, the tenth largest steel importer in Russia, absorbed only two percent of Russia's exports of steel, with a volume of 538.5 thousand tons. Last year, the country saw a 12 percent drop in imports from Russia. The remaining 140 countries only absorb 34% of Russia's total export steel.
The volume and value of exports to the top ten destinations
While the volume of Russian steel exports to half of these ten major markets grew between 2015 and 2016, the value of exports in nine markets fell from the total of these ten markets. The highest drop in export value was observed in Italy last year. According to official reports of the Russian Ministry of Commerce, last year, exports to Italy were 32.8 percent, to Germany 28.9 percent, to Kazakhstan 27.9 percent, and Mexico was the only country to pay 4.5 percent more to Russia in 2015 than steel.
In terms of export volume, the situation was slightly different. This year, exports to Egypt increased by 27.8% and exports to Taiwan increased by 18.5%, while exports to Mexico grew by 13.3%. Russia's exports to Kazakhstan amounted to 24.9 percent, to 16.2 percent to Italy, to Germany 15.8 percent, and the United States saw a 12 percent drop in imports from Russia.
Iran is one of the major buyers of Russian steel
Despite the fact that Ian is not one of the top ten major importers of Russian steel, in recent years import from the country has grown a lot. Statistics show Iran was the thirteenth largest exporter of Russian steel products last year, but the point that made the relationship between the two countries more important in the steel sector was the high growth rate of Russian steel exports to Iran. Russia's steel exports to Iran rose by 122.2 percent last year, followed by Vietnam after the Czech Republic and Morocco as the fourth highest-growth export country. Last year, the growth rate of Russian steel exports to Vietnam was 4368 percent, the export growth rate was 383.9 percent, and Morocco's export growth rate was 196.2 percent. Vietnam was the 12th largest export market for Russian steel, while Morocco and Czech ranked 14th and 16th respectively.