IAA PortNews’ analytics confirms downward trend of metal scrap shipments from Russian seaports

According to the analytics of IAA PortNews covering the first three weeks of September, seaports of Russia handled 64,000 tonnes of metal scrap including 32,000 tonnes loaded onto ships in the ports of the North-West region, some 26,000 tonnes - in the Far East ports of Russia and over 5,000 tonnes – in the ports of the country’s Southern region.

In the first half of 2019, transshipment of metal scrap in seaports of Russia fell by 27%, year-on-year, to 1.6 million tonnes. The downward trend persists in the segment.

According to earlier reports of Kommersant, Russian exporters of metal scrap could not ship the cargo in September due to their failure to obtain export license from the Ministry of Industry and Trade in proper time. In the result, shipment of metal scrap almost stopped as confirmed by companies’ letters to Ruslom association (numbering over 300 scrap businesses). The association expects exports to recover only in October with the cost of non-shipped metal scrap to exceed RUB 5 billion resulting in the loss of custom dues of up to RUB 270 million.