20 years' highest figures for Russian scrap

20 years’ highest figures for Russian scrap

Russian ferrous scrap metal showed a dramatic increase in terms of both collection and exports in 2004. According to the Advisory Council of Scrap Processing Works (KSLP) of Russia, 28.8 million mt scrap was collected in 2004, with 30% increase from the previous year. Domestic consumption volume in 2004 was 15.3 million metric tons with 7% increase from the previous year, while the export volume was 13.5 million mt, 67% more than the previous year. The figures are at the highest levels for the last 20 years. The incrase in the volumes is justified by the increase in domestic and international prices and the modernisation of the old factories. And the possible annual collection capacity is expected to climb up to 40 million mt in the next ten years while the domestic demand is not expected to exceed 18 million mt in the same period. Steel mills in the country reportedly hold stockpiles equivalent to two months smelter feed.