In May 2024, Russian steelmakers reduced steel production by 2% year-on-year to 6.2 million tonnes.
Pig iron production fell by 7% to 4.4 million tonnes, while finished steel output fell by 2% to 5.5 million tonnes. This decline also affected the sector's main raw materials, with coke production down 7% to 2 million tonnes and iron ore production down 0.3% to 9.3 million tonnes. However, pipe production increased slightly by 1% to 1.1 million tonnes.
In total, in the first five months of 2024, the production of the main products of the ferrous steel industry in Russia decreased: pig iron production fell by 5% to 21.6 million tonnes and steel production by 3% to 30.7 million tonnes.
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