Interfax, citing preliminary figures from a strategy for the development of the steel industry to 2030 prepared by Russia’s Industry and Trade Ministry and approved by the government, has reported that Russia’s crude steel production fell by 5.5% YoY to 73.5 million tonnes in 2022. The baseline scenario of the strategy projects that steel production, including new territories, will grow by 4.2% to 76.6 million tonnes in 2023, while the conservative scenario forecasts a drop of 7.3% to 68.1 million tonnes. Production of finished rolled steel fell 7.4% to 61 million tonnes in 2022, as domestic consumption slumped 4.4% to 39 million tonnes and exports dropped 11.2% to 26 million tonnes. The baseline scenario sees finished rolled steel output growing 6.5% to 65 million tonnes in 2023, as domestic consumption jumps 14.4% to 44.6 million tonnes while exports fall 5.8% to 24.5 million tonnes. The conservative scenario projects that rolled steel production will slump 2.1% to 59.7 million tonnes, with domestic consumption edging down 0.3% to 38.9 million tonnes and exports falling by 4.6% to 24.8 million tonnes. Forecast steel production, consumption, exports and imports.In Million tonnes
Interfax, citing preliminary figures from a strategy for the development of the steel industry to 2030 prepared by Russia’s Industry and Trade Ministry and approved by the government, has reported that Russia’s crude steel production fell by 5.5% YoY to 73.5 million tonnes in 2022. The baseline scenario of the strategy projects that steel production, including new territories, will grow by 4.2% to 76.6 million tonnes in 2023, while the conservative scenario forecasts a drop of 7.3% to 68.1 million tonnes. Production of finished rolled steel fell 7.4% to 61 million tonnes in 2022, as domestic consumption slumped 4.4% to 39 million tonnes and exports dropped 11.2% to 26 million tonnes. The baseline scenario sees finished rolled steel output growing 6.5% to 65 million tonnes in 2023, as domestic consumption jumps 14.4% to 44.6 million tonnes while exports fall 5.8% to 24.5 million tonnes. The conservative scenario projects that rolled steel production will slump 2.1% to 59.7 million tonnes, with domestic consumption edging down 0.3% to 38.9 million tonnes and exports falling by 4.6% to 24.8 million tonnes. Forecast steel production, consumption, exports and imports.In Million tonnes
