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Russian ministry expects steel manufacture at last year’s level in 2024

According to the outlook on Russia’s social and economic development for 2025 and the planning period of 2026 and 2027 drafted by the Economic Development Ministry, the country’s pig iron production will total 54.7 mln tons in 2024

NOVOSIBIRSK, December 6. /TASS/. The Industry and Trade Ministry hopes that Russia’s manufacture of steel will be roughly at last year’s level in 2024, Minister Anton Alikhanov told TASS.

"We hope that manufacture of steel will be at around last year’s level. We have seen a certain slowdown in recent months, but we hope there will be no sharp drop compared with last year, though it was a record one," he said.

According to the outlook on Russia’s social and economic development for 2025 and the planning period of 2026 and 2027 drafted by the Economic Development Ministry, the country’s pig iron production will total 54.7 mln tons in 2024 (+0.2% compared with 2023), while steel output will grow to 76.3 mln tons (+0.4% compared with 2023). Moreover, the production of finished rolled ferrous metal products will amount to 64.3 mln tons in 2024 (+0.2% in annual terms). By 2027, the production of finished rolled ferrous metal products is expected to add 7% to 68.7 mln tons. Meanwhile the production of steel pipes is projected at 13.5 mln tons in 2027 (+1.5% compared with 2023).

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