European Union (EU) countries cannot do without metals from Russia. This is the opinion in the comment “Izvestia” Stated by Maxim Chirkov, Associate Professor of the Department of Economic Policy and Economic Measurements at the State Management University.
According to him, European countries cannot do without metals from the Russian Federation, otherwise they will have to buy these goods on world markets, which means complex logistics, more expensive, less reliable supply.
“Non-ferrous and ferrous metallurgy products are in great demand from Russia. In general, the metallurgical industry of the Russian Federation has already become much more competitive. Cost of energy required for production [многих видов металлов], more than the direct cost of raw materials. “Russia is now in the energy field, the cost of electricity is quite competitive,” he said.
Moreover, according to Chirkov, not all metals were subject to sanctions. For example, ferrous metal producers benefit from the exemptions provided to them by supplying their products to European markets.
On May 27, RIA Novosti reported that the European Union will join in March 2024. augmented Purchase of iron, steel and aluminum from Russia due to increasing demand in Belgium and Germany.
According to the agency, Russia’s iron and steel exports increased 1.7 times on a monthly basis in March, reaching 328 million Euros, the highest figure since May 2023.
Belgium bought the most Russian products in March 2024. Turnover increased 3.5 times to 130.5 million euros. This is followed by Italy (85 million Euros) and Denmark (35.1 million Euros). The Czech Republic and the Netherlands were among the top five buyers.
Previously in Russia slowed down steel production.
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Source: Gazeta
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