Krasny Oktyabr maintains its leading position while increasing production

Last year, the company increased production of stainless long products by 6.7% on-year to 22,399 tonnes.

Krasny Oktyabr recently implemented a major project to upgrade and restore production equipment. Prior to stopping supply to Western Europe, the company claimed it had not experienced volume losses.

Russian production of stainless steel increased in 2022 to 260,000t, up by 17.6% on-year. Due to conservative usage in Russia's protected industries and government orders, domestic product demand is still stable.

In the Volgograd region, Russian authorities intend to construct a stainless steel production competence center.

Due to Russia's invasion of Ukraine, stainless steel exports from Russia fell to only 9,050t in 2022, a 31.4% year-over-year decline. Due to the new sanctions imposed against Moscow, stainless steel imports fell to 372,070t, a 19.6% decrease.