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Moody's: Russian steelmakers' earnings to rise as GDP recovery fuels domestic steel demand

July 12, 20:27 UTC+3 MOSCOW

However, a looming trade war and the risk of escalating sanctions could threaten steel producers' strong position in export markets

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MOSCOW, July 12. /TASS/. Moody's expects an upsurge in the earnings of Russian steelmakers on the back of the country’s economic uplift.

"Recovering demand for steel in Russia on the back of GDP growth and declining mortgage rates will buoy steelmakers' earnings in 2018-2019," the raging agency said in a report "Steel - Russia: Domestic demand supports earnings, but trade barriers and sanctions pose risks" released on Thursday.

However, a looming trade war and the risk of escalating sanctions could threaten steel producers' strong position in export markets, Moody’s added.

"Steelmakers' EBITDA margins will remain high on the back of the weak ruble and continuing efficiency gains, although the potential for further cost cuts will likely decrease," the report said.

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