Russia's steel output estimated to recover after 2024
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Update time : 2022-08-23 17:36:56
Russia's Ministry of Industry predicted that the country's steel output could hopefully go back to a relatively regular level of about 75 million tons per year from 2024 to 2025.
Affected by those sanctions, this year, Russia’s steel output may decrease by 15% to 25%. According to data from the Ministry of Industry, in 2021, the country's steel output hit a record high to 77 million tons. However, this year, the EU decided to ban almost all kinds of metal imports from Russia due to the recent war, which means that 3.9 million tons of steel products, 200,000 tons of steel pipes, and 700,000 tons of semi-finished products were refused to enter the European market.
