9,312.13 TRY BIST 100 BIST 100
38.30 USD USD USD
5.28 CNY CNY CNY
43.56 EUR EUR EUR
0.12 CNY CNY/EUR CNY/EUR
46.74 TRY Interest Interest
66.21 USD Fossil Oil Fossil Oil
41.10 USD Silver Silver
488.00 USD Copper Copper
99.70 USD Iron Ore Iron Ore
325.00 USD Shipbreaking Scrap Shipbreaking Scrap
4,091.06 TRY Gold (gr) Gold (gr)

Steel production in Russia decreased by 6-7%

Steel production in Russia is estimated to have declined by approximately 6-7% in 2024 compared to previous years, according to preliminary data. The exact figures are still being calculated, as noted by the Deputy Minister of Industry and Trade of the Russian Federation, Mikhail Yurin.

Steel production in Russia decreased by 6-7%

Yurin explained that there has been a slight drop in steel production relative to prior years, estimating a decrease of around 6-7%. This decline became more evident in the second half of 2024, coinciding with a slowdown in the construction sector. As construction activity began to decelerate, the steel industry followed suit, reflecting the interconnected nature of these sectors.

Yurin highlighted that the Ministry of Industry and Trade has been actively addressing the situation. Several high-level meetings were held under the chairmanship of Minister Anton Alikhanov to evaluate the current challenges and explore potential support measures. The ministry is now working closely with industry representatives to implement the recommendations developed during these discussions.

This decline in steel production underscores the broader economic challenges faced by Russia’s metallurgical industry, heavily influenced by trends in construction and infrastructure development. Further support measures are expected to be announced as the industry adapts to changing market conditions.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

UAE scrap and steel market seeks balance as saudi rebar prices hold steady

Friday, April 25, 2025

France seeks safeguards against imported Chinese steel

Friday, April 25, 2025

Sustainable transformation in the steel industry: Gemini Corporation's vision and actions

Friday, April 25, 2025

Leaders of the Steel World Meet at Steel Summit 2025

Friday, April 25, 2025

Tuğba Çimenci: EU's Steel Plan creates both pressure and opportunity for the Turkish industry

Friday, April 25, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now