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Steel production in Russia decreased by 3.8% in 7 months

The decline in steel production may be due to two factors, says independent industrial expert Leonid Khazanov. Traders filled warehouses, making large purchases ahead of the construction season, he notes. In addition, export supplies continue to decline: the European market is, in fact, closed to Russian metal, the expert recalls.

Steel production in Russia decreased by 3.8% in 7 months

During July 2024, metallurgical enterprises of the Russian Federation produced 5.9 million tons of steel and 5.1 million tons of finished rolled products. The year-on-year decline in the figures is 8.1% and 6.9%, respectively.

For seven months, the volume of steel production decreased by 3.8% to 42.6 million tons compared to the same period last year, rolled steel - by 3.2% to 37.1 million tons.

Steel pipes were produced in July, down 5.8% year-on-year to 1.1 million tons. During January-July, the figures deteriorated by 2.2% to 7.4 million tons.

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