The Ministry of Industry and Trade expects an increase in steel output in Russia by 4-5% in 2023
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Steel production in Russia this year may increase by 4-5% compared to 2022 and amount to 74-75 million tons, Deputy Prime Minister – Head of the Ministry of Industry and Trade Denis Manturov told reporters.
“According to the results of the first quarter, steel production is almost at the level of the record year 2021 – 18.7 million tons. This is a very high figure. At the end of the year, if we continue in the same spirit, we will reach 74-75 million tons, that is, 4-5% more than last year,” leads his words “Interfax”.
The growth of the domestic market, as well as an increase in exports to friendly countries, which is now almost fully loaded, contributes to the growth of the domestic market, the minister added.
Formerly World Steel Association appreciated reduction in steel output in Russia by 7.2% to 71.5 million tons in 2022. In total, 1.879 billion tons of steel were produced in the world last year, the figure decreased by 4.2% compared to 2021. Russia closes the top five countries in steel production last year, in first place is China with 1 billion tons of steel produced (-2.1% compared to 2021)
November 2022 at the Ministry of Industry and Trade predicted decrease in steel output in Russia by 6-8% in 2022
In March last year, the EU banned the import of rolled steel, fittings, welded and seamless pipes from Russia as part of the fourth package of sanctions. According to the Ministry of Industry and Trade, these sanctions affected the export of 3.9 million tons of finished rolled steel, 200,000 tons of pipe products and 700,000 tons of steel billets, which amounted to about $3.7 billion in value terms.
In 2021, the ministry reported a record level of steel output of 77 million tons. In 2022-2023. it followed from the November forecasts that the output could stabilize at the level of 70.8–72.4 million tons.
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