He noted that the situation on the Russian steel market is “constantly changing”. The industry is most affected by the high Central Bank rate, as well as difficulties on export routes.
In the first half of 2024, according to Andrei Savelyev, it was hard for Russian steelmakers to compete on foreign markets with cheap Chinese products; in the second half of this year, consumption in the main metal-consuming segments (construction, machine building, fuel and energy complex, etc.) decreased.
Speaking about the prospects of ferrous metallurgy enterprises in 2025, the speaker emphasized that the Ministry of Industry and Trade sees opportunities for positive changes associated, in particular, with the abolition of export duties, which will allow to increase exports by 2 million tons. In addition, the ministry will try to reduce the regulatory burden on steel mills.
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