Steel production in Russia decreases

Russian metallurgists reduce steel production: in June they reduced the volume by 4.3% to 5.5 million tons. The market participants explain that at the beginning of the year an abnormal demand was due to concerns of further devaluation of the ruble, caused, including, overstocking. According to pessimistic forecasts, in 2015, the demand for steel in Russia and the CIS countries will decrease by 15%. The production of pipes is growing, but Gazprom has already canceled a number of large tenders.

The production of steel in Russia again began to decline, the data of the Russian Statisctics Committee shows: in June, steelmakers reduced the output by 7.5% to 5.5 million tons. Back in May, the fall made up only 1.6%, and in April there was an increase by 0.6%. By results of the first six months, it was managed to keep the fall at symbolic 0.2% to 34.9 million tons, and rolled products - at 0.6%, to 30 million tons.