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Severstal expects steel consumption in Russia at 36 mln tons in 2027

Steel consumption totaled 38 mln tons in 2025

MOSCOW, July 6. /TASS/. Steel consumption in Russia could reach around 36 mln tons in 2027, while this year it is expected to stand at 34-35 mln tons, according to materials from Severstal.

Steel consumption totaled 38 mln tons in 2025. A peak of 46 mln tons was reached in 2023.

According to Severstal, global steel demand is projected to reach 1.8 bln tons in 2027. China will be the primary consumer. In 2026, global consumption could amount to 1.7 bln tons.

The company expects steel production at around 11.3 mln tons in 2026.

Severstal is a vertically integrated steel and mining company and one of Russia’s largest steel producers. The Cherepovets Steel Mill is the company’s key asset. Its production capacity roughly totals 12 mln tons of steel per year. Alexey Mordashov who holds around 77.03% of shares, is the main shareholder of Severstal.

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