Russia will stop exporting ferrous metals scrap from its three major ports on the Far East from July 21 for 6 month.
According to Torex, the owner of Amurmetal, this will affect the trade of Russian companies with South Korean works in the ports of Vladivostok, Nakhodka and Slavyanka amounting to 1 million tons per year.
Scrap exports will not cease altogether, as there are 9 more ports on the Far East. But they are farther to the north and far from South Korea, which is the main market for the local scrap. In 2017 these 9 ports together accounted only for 3% of the total scrap exports (1.4 million tons).
On the other hand, Vladivostok, Nakhodka and Slavyanka exported 1.36 million tons of scrap, with 90% bound for South Korea.
Amurmetal requires 100 thousand tons of scrap per month, but the current export volumes make it almost impossible. According to the company management, the scrap export limitation was the only way out. (Ukrainian metal)
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