ST. PETERSBURG, June 24. /TASS/. Key rater lowering by the Bank of Russia and ruble weakening would make it possible to support steel production at the level of 76 mln metric tons and the demand for steel above 45 mln metric tons, CEO of the Russian steelmaker Severstal Alexander Shevelev told TASS in an interview at the St. Petersburg International Economic Forum (SPIEF).
"Key rate reduction and ruble weakening would make it possible to support steel production at the level of 76 mln tons and the good demand for steel, over 45 mln tons. However, we will not most probably see it as of the end of 2025," the chief executive said.
The ruble at present is "too strong" from the standpoint of export companies, Shevelev noted. "From my point of view, ruble weakening to 90-100 rubles per dollar would be a good condition for export opportunities in the metal sector. We believe it is optimal for export-focused industries," he added.