Russia reorients metallurgy exports to friendly countries

Russia is focused on the export of metal products to Turkey, China, the CIS countries, Latin America and Southeast Asia. This was announced by Deputy Prime Minister, head of the Ministry of Industry and Trade Denis Manturov at a meeting with Prime Minister Mikhail Mishustin. Mr. Manturov during the meeting presented the key parameters of the strategy for the development of metallurgy in Russia until 2030.

By this date, according to the Deputy Prime Minister, the production of finished steel ferrous metals can grow by 33%. Consumption non-ferrous metals in the Russian market is expected to grow by 28%. According to Denis Manturov, now Russian enterprises are already reorienting exports.

He clarified that one of the key areas of the strategy will be expansion of domestic demand and, in particular, “matching the possibilities of metallurgy with the needs of metal-intensive sectors of the economy.” We are talking about the construction and transport sectors, the fuel and energy complex, housing and communal services, civil engineering and the military-industrial complex. It is noted that the updated strategy takes into account the enterprises of the new territories and their raw material base.

“I would especially like to note that in the updated strategy we took into account the integration of enterprises from new territories. As well as the raw material base located in them,” the Deputy Prime Minister added. Mr. Mishustin supported his proposal to approve the strategy at the next government meeting.

BCS Global Markets Analysts spokethat the export of steel and iron ore is unprofitable for almost all Russian metallurgical companies, and the sector survives at the expense of the domestic market. At the same time, in November, Russian companies provided more than 10% of Indian imports, becoming one of the largest suppliers to the market, where they had almost no presence before the sanctions and the European embargo. In general, the weakening of the ruble and the growth of world prices contribute to the increase in steel exports.

Details – in the publication “Kommersant” “Steel takes hold in India”.

Laura Keffer