MOSCOW, April 22. /TASS/. The steel consumption in Russia fell by 13% annually in the first quarter of 2025 due to the declining activity in construction and machine-building segments, Severstal CEO Alexander Shevelev said.
"The first quarter of 2025 was challenging for the Russian iron and steel metallurgy. Measures to cool the economy down, and especially the high key rate, continued applying pressure on all main consumers of rolled metal. The steel consumption in Russia, according to our estimates, plunged by about 13% in annual terms, mainly owing to the decline of economic activity in the construction industry and machine-building," Shevelev said.
The company expects improvement of financial indicators in the next quarter, the chief executive added.