According to statistics from the SpetsStal Association, Russia imported around 486,000 tons of stainless steel in 2023, hiking by 31% compared to the previous year, mainly driven by higher demand.

Among them, imports from China accounted for the largest proportion at 67.6%, and India ranked second with a proportion of 20.3%. Indonesia and Turkey occupied a combined share of 8.4%.

The association said that Russia’s stainless steel import volume might reach 487,000-492,000 tons this year.