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Construction sector accounts for 70% of Severstal portfolio — CEO

Severstal increased steel production by 5% year on year as of the end of 2023 to 11.27 mln metric tons

MOSCOW, February 15. /TASS/. The construction sector accounts for 70% of the sales portfolio of Severstal, while the engineering and energy sectors make up to 15% each, CEO of the Russian steelmaker Severstal Alexander Shevelev said.

"The construction segment’s share remains very high and about 70% of our portfolio is allocated to service our clients in the construction sector, which is very broad and very diverse," Shevelev said. The engineering segment accounts for 15% in Severstal sales and 15% more is directed to the energy segment.

Severstal increased steel production by 5% year on year as of the end of 2023 to 11.27 mln metric tons. Pig iron output edged up by 3% to 11.3 mln metric tons. Steel production sales by the company dropped by 2% to 10.73 mln metric tons in 2023.

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