Almost a third of metallurgical companies in the world operate at a loss – Mordashov

At the present time about 67% of the metallurgical companies in the world work with negative profitability, the average loading of capacities is 78% against the necessary 85%.

On Tuesday at the Metallurgical Summit in Moscow A. Mordashov said that 67% of the metallurgical companies around the world work with a negative profitability. According to the head and the main owner of Severstal, the crisis in the world metallurgical industry might last for another 3-4 years.

The reason for the growing losses in metallurgy, according to Mr. Mordashov, has become large accumulated surplus capacities in steel making and the metal-rolled products consumption fall. Meanwhile he said that the Russian metallurgical companies are the world leaders by the level of capacities’ loading and profitability.