Steelmakers Avoid Russian Components but Bargain Hunters Swoop In

Many European steelmakers have mentioned they might avoid Russia-sourced raw materials after the nation invaded Ukraine in late February, but import volumes of some Russian steelmaking components into Europe are surging anyway.

Russian exporters boosted shipments of Russia-sourced ferrotitanium, a metallic alloy used to strengthen metal, by 30% in March from the earlier month, in line with import and export paperwork. The alloy is vital to creating completed metal that goes into vehicles, stainless-steel and shipbuilding.