The latest data released by the Russian Special Steel and Alloys Consumers and Suppliers Association (Spetsstal), the country’s stainless steel exports tumbled during the initial seven-month period of the year.

As per released data, the Russian exports of stainless steel products totaled 4,839 tons, down by 66% when compared with the exports during the corresponding seven-month period in 2013. The country’s steel products export had totaled 14,232 tons during Jan-July last year.

The export of stainless steel billets fell 95% during the seven-month period to 475 tons. A drop of 36% was seen in exports of flat rolled stainless steel products during the period. The export of flat rolled products totaled 751 tons. On the other hand, the exports of long rolled stainless steel products totaled 2,642 tons, 6% higher when compared with the previous year.

Meanwhile, Spetsstal data also indicates that Russia's stainless steel product imports increased by 10% month-on-month to 21,160 metric tons (mt) during the month of July this year.