Despite the anticipated improvement, steel consumption would remain below the 38 million tonnes recorded in 2025 and well below the record 46 million tonnes achieved in 2023, highlighting that the Russian market is still recovering from weaker economic activity.
On the global front, Severstal projects worldwide steel demand to reach around 1.8 billion tonnes in 2027, with China expected to remain the largest steel-consuming market.
The company also plans to increase its crude steel production to approximately 11.3 million tonnes in 2026, compared with 10.83 million tonnes produced in 2025.
Previously, Severstal attributed weaker domestic steel demand to the cooling of the Russian economy, noting that softer consumption has also weighed on steel product prices in the local market. The company expects a gradual improvement in market conditions as demand begins to recover.
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