Novolipetsk Steel (NLMK) one of the leading steel companies in Russia forecasted that Russia’s steel exports will fall by 23% in 2022. The products with decreased exports will mainly be rolled products, with a decrease of 40-45%, due to restrictions on exports caused by the EU’s sanctions imposed on Russia.
The company also predicted that Russia’s domestic steel consumption will drop by nearly 13% to 27 million tons this year, and the demand of engineering will also decrease by 25.4% to 4.7 million tons.
Besides, NLMK expected to see a drop of 26% in the output of Russian steel companies in the second half of 2022 and a total decline of 15% in this year.
Comments
No comment yet.