Demand for Russian steel is growing despite economic uncertainty

This increase was primarily due to the construction and engineering sectors, which indicates a positive impact on the demand for steel in the country.

In particular, the demand for Russian steel increased by about 7% during this period, reaching 35.1 million tons, even under international sanctions. Part of this growth can be explained by the increase in demand for steel in domestic engineering and heavy engineering.

However, despite the positive dynamics of demand for steel, the macroeconomic situation is beginning to deteriorate. The government has also reduced spending on projects that are important for metal consumption.

Although the growth of the construction and engineering sectors has positively affected the demand for Russian steel, uncertainty in macroeconomics and policy changes may put pressure on the steel industry.