According to the Russia-based SpetsStal Association, after the introduction of sanctions against Russia in 2022 due to the war in Ukraine, the country’s imports of stainless steel were divided into those from friendly and unfriendly countries

The Eurasian Economic Commission (EEC), the executive body of the Eurasian Economic Union which includes Belarus, Kazakhstan, Kyrgyzstan,Russia and Armenia,

China’s Ministry of Commerce (MOC) has announced that during the February 19-25 period this year the overall average finished steel price in China edged down slightly.

China’s stainless crude steel output in 2023 has been estimated at 36.0 million mt, versus 31.975 million mt recorded in 2022, as announced by stainless steel council of China Special Steel Enterprise Association (CSSC) based on the preliminary statistics.

In 2023, Russia’s stainless steel imports exceeded 486,000mt,up by 30.8 percent year-on-year, according to the Russia-based SpetsStal Association.

The Eurasian Economic Commission(EEC), the executive body of the Eurasian Economic Union which includes Belarus, Kazakhstan, Kyrgyzstan Russia and Armenia, has announced that it has decides to extend the anti-dumping duty on imports of seamless stainless steel pipes from China and Malaysia for a period of five years until January 22, 2029.

With the beginning of the new EU quota period between January 1 and March 31, some of the import quotas for the certain steel products allocated for “other countries” and China have already been exhausted, while over 50 percent of quotas for some steel products have been used up, according to the European Commission’s data.

Turkiye revised import duties for a wide range of steel products, including stainless steel cold-rolled coils and sheets. However, it is unlikely to bring significant changes in trading volumes.