According to the data issued by the Russian Special Steel and Alloys Consumers and Suppliers Association (Spetsstal), in September this year Russia's imports of stainless steel products increased by 71 percent month on month to 10,800 mt, which is the highest monthly result registered since the beginning of 2009.
"The increase in imports gives confidence that the worst times for Russia's stainless steel market are behind. The market is in expectation of a slow but stable rebound of stainless steel consumption. However, there is still a long way to go to reach the previous levels," reads Spetsstal's statement.
Accordingly, in January-September this year Russia's imports of stainless steel products decreased 47.7 percent to 70,800 mt compared to the same period of 2008. The main decreases were registered in imports of flats - down 53.6 percent, in wire - down 50.3 percent, seamless tubes - down 43.9 percent, longs - down 41.9 percent, welded tubes - down 25.5 percent, and billets - down 15.8 percent, all compared to the same period last year.