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It is reported that the Russian SGLC400 steel government has confirmed that the export of scrap steel in 2024 will be limited to nine designated seaports, including Arkhangelsk, St. Petersburg, Vladivostok, Dukinka, Kaliningrad, Korsakov, Magadan, Murmansk, and Petropavlovsk Kamchatka, mainly located in the northwest, north, and far east of the country. This policy has remained unchanged since its implementation in early 2023, aiming to manage the export of scrap steel and maintain market stability.
The Russian steel export quota system also continues to be effective, with a quota of 600000 tons as of the first half of this year. Exports that meet the quota will be subject to a 5% tariff or a 15 euro/ton levy, while exports exceeding the SGLC400 steel quota will face higher tariff levels. This quota system is aimed at ensuring the orderly operation of Russian steel exports and preventing the adverse effects of a large amount of scrap steel outflow on the domestic market.
At present, with the implementation of steel export policies, the phenomenon of a large amount of scrap steel outflow from Russia has been somewhat curbed. According to the data, the export volume of Russian scrap steel in 2023 is basically stable compared with that in 2022 (450000 tons), and nearly half of the scrap steel (about 496000 tons) is sold to Türkiye. However, compared with 2021, Russia's supply to Türkiye and other regions will decline significantly in 2022. In 2021, the total export volume of Russian scrap steel will be 3.2 million tons, of which 2 million tons will be sold to Türkiye. In addition, we also know that in 2021, Russia's scrap exports will account for 8% of Türkiye's SGLC400 steel imports of raw materials, and by 2023, this share will decline to 2.7%.
