The metallurgical sector, which remains a key driver of Russia’s manufacturing industry, also showed signs of stabilization. New orders for steel, rolled products, and non-ferrous metals recovered after 12 consecutive months of decline, supported by stronger domestic demand from the construction and machinery sectors, as well as the launch of new infrastructure projects.
However, export demand for Russian steel products remains weak. Overseas orders for both ferrous and non-ferrous metals declined for the eighth consecutive month, with the pace of contraction reaching its fastest level since September 2025.
Industry participants cited sluggish conditions in global markets, unfavorable exchange rate movements, and intensifying competition from Asian producers as the main factors weighing on exports. As a result, the domestic market has become the primary source of support for Russian steelmakers, while further growth will largely depend on sustained investment activity within Russia and continued government support measures.
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