21.Mar .2023 10:00

Russian Market Is Completely Closed For Georgian Ferroalloys

Russian Market Is Completely Closed For Georgian Ferroalloys
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Ferroalloy exports to Russia have completely stopped. According to Geostat, products were not sold in one of the largest markets for ferroalloy producers in February. The reason is the imposition of anti-dumping duty on ferroalloys exported from Georgia in the Eurasian Union. Before the introduction of this tax, USD 25, 45.3 million worth of ferroalloys were exported to the Russian market until January.

In February, the exports of ferroalloys amounted to only USD 20.8 million, annual exports have decreased by 3.3 times (February 2022 - USD 69.05 million). Last month, the largest amount of products were exported to only 9 countries.

TOP Exporting Markets For Ferroalloys / February 2023

1. USA - USD 8.11 million
2. Turkey - USD 5.9 million
3. Algeria - USD 5.8 million
4. Pakistan - USD 0.320 million
5. Azerbaijan - USD 0.269 million
6. Spain - USD 0.177 million
7. Great Britain - USD 0.176 million
8. Austria - USD 0.063 million
9. Iran -USD 0.028 million

As for the first 2 months of the year, in January-February, the exports of ferroalloys amounted to USD 71.6 million, the annual decrease is 28.6%.

TOP- 5 Exporting Markets For Ferroalloys / January-February 2023

1. Russia - USD 45.3 million
2. Turkey - USD 9.9 million
3. USA - USD 8.3 million
4. Algeria - USD 5.8 million
5. Azerbaijan - USD 0.723 million