As our readers are aware, Russia and Ukraine are both significant exporters of steel among other products. As we identify potential outcomes related to the Russia/Ukraine war, one of the areas that stands out to us where those steel exports go and what pipe and tube products, in what quantities, do we import from those countries. In the case of standard pipe, Imports from Mexico, Thailand, Turkey, China, and Italy have made up about 16% of import supply or just about 500k tons over the last three years. These countries collectively have imported about 15 million t/y of hot rolled band and billets from Russia and Ukraine, on average, over the same period. While we don't know exactly what markets the steel is being used in, there could be a disruption in certain supply channels related to sanctions and/or transportation and production issues.
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