In June 2024, Russian steel production fell by 4% yoy to 6 million tonnes, pig iron by 6% to 4.2 million tonnes and finished rolled products by 2% to 5.3 million tonnes. Pipe production fell by 0.2% yoy to 1.1 million tonnes. Iron ore production in June was almost unchanged yoy.
In the first six months of 2024, steel production decreased by 3% yoy to 36.7 million tonnes. Pig iron production fell by 5% to 25.8 million tonnes, finished rolled products production by 2.5% to 32 million tonnes, pipe production by 2.1% to 6.3 million tonnes and iron ore production by 2% to 53.7 million tonnes.
Experts attribute the decline in production to traders filling warehouses ahead of the construction season and reduced exports to Europe due to sanctions.
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