Europe has found a replacement for Russian and Ukrainian steel
Turkey, India and China are also listed as the main suppliers. In total, five countries account for 51 percent of all steel exports to the EU. According to the association, imports of finished steel from Russia and Ukraine to the European Union in the eight months of 2022 fell by 59 and 79 percent, respectively.
According to the calculations of the Argus agency, in autumn Russia became one of the largest suppliers of steel to the Indian market, although exports were minimal before the sanctions and the European embargo. According to analysts, exports are growing against the background of the weakening of the ruble and an increase in world prices.
In November, Russian companies accounted for more than 10 percent of Indian imports — they shipped 62.7 thousand tons of hot-rolled roll. Other major suppliers — Japan, China and Vietnam — sent much smaller volumes to the country. In total, in April-November, Russia exported 158 thousand tons of hot-rolled steel to India.