Russian Scrap Metal Collection, Exports Soar in 2004

Russian ferrous scrap metal collection and exports soared last year on the back of high domestic and external prices and increased availability of scrap as the modernization of obsolete factories started to gain momentum, the Scrap Metal Advisory Board (KSLP) said in a press release.

Ferrous scrap collection rose 30 percent to 28.8 million metric tons, the release said. Scrap yards shipped 15.3 million metric tons of scrap to Russian steel mills, up 7 percent, and exported 13.5 million metric tons, up 67 percent.

Russia has not collected as much scrap since 1989.

The Advisory Board thinks scrap collection could hit 40 million metric tons annually over the next five to eight years and that potential demand from Russia's own steel mills will not exceed 17 million-18 million metric tons. - Interfax