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Steel industry in Russia - statistics & facts

Production of steel — an alloy of iron, carbon, and sometimes other elements — is a major segment of Russian ferrous metallurgy, along with ironmaking. Having inherited a strong industry from the Soviet period, Russia ranks fifth by monthly crude steel production, following China, India, Japan, and the United States. Roughly two-thirds of steel produced in Russia is obtained using the basic oxygen furnace, a method in which oxygen is blown into molten pig iron in a converter. The country's largest steelmakers in 2020 were Novolipetsk Steel (NLMK), Evraz, Magnitogorsk Iron & Steel Works (MMK), and Severstal. In order to increase tax revenues from metallurgical producers, the government set an excise tax of 2.7 percent for semi-finished steel products starting from 2022.

Steel consumption in Russia

Domestically, steel is mostly used in construction (e.g., for metal beams and pipes) and manufacturing (e.g., vehicle, electronics, and food production). Russia's apparent steel use reached 42.5 million metric tons of finished steel products in 2020, marking a decrease due to the coronavirus (COVID-19) pandemic. In the following two years, the World Steel Association expects the market's recovery fueled by an increasing demand from the automotive sector and the state mortgage support program. The per capita apparent steel consumption, which exceeded 291 kilograms of finished steel products in 2020, was lower than in the European Union (EU-28) on average. Besides producing its own steel, Russia imports various products and is particularly dependent on stainless steel imports.

Steel export trade in Russia

Russia was the fourth-leading exporting market of steel and steel scrap worldwide. The total value of iron and steel exports from the country reached approximately 16 billion U.S. dollars in 2020, with Turkey and Taiwan being the leading destination markets. Furthermore, Russia widely exported steel products into the countries of the Commonwealth of Independent States (CIS), such as Belarus and Kazakhstan. Semi-finished and flat product exports were the highest, at nearly 5.05 billion and 4.15 billion U.S. dollars, respectively. Between August 1 and December 31, 2021, a duty of 15 percent was imposed on Russian steel and steelmaking product exports outside the Eurasian Economic Union (EAEU) to restrain the growth of domestic prices. However, several market players criticized the move stating that the restrictions would limit their modernization opportunities and make them lose their export markets to foreign competitors.

Interesting statistics

In the following 5 chapters, you will quickly find the 34 most important statistics relating to "Steel industry in Russia".

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