Russia's ferrous rail freight down 1% in January-May

Russian Railways (RZD) shipments of ferrous metals fell by 1% year-on-year in January-May to 29.4 million tonnes, the state-run company said on Monday June 2.

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Rail shipments of ferrous scrap dropped by 6% over the period to 5.6 million tonnes.

Railway shipments incorporate those for domestic sales purposes and for transportation to export points, reflecting both domestic and export demand.

Export price for CIS-origin hot rolled coil (HRC), one of the major steel products exported from Russia, lost $27.5 per tonne over the first quarter, but then bounced back in the April-May period.

Steel First’s assessment for the product averaged at $537.5 per tonne fob Black Sea on June 2, flat compared with early January's price

RZD's total shipments – including ferrous metals, ferrous scrap, coal, coke, iron and manganese ores, oil and building materials – stood at 498.9 million tonnes in the period, down 1% from the same period in 2013.

The railway operator's total shipments in May amounted to 103,2 million tonnes, down 2% year-on-year. RZD did not provide the breakdown for the goods transported in the month.

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