Industry and Trade Ministry forecasting 1.6% growth in steel output, 3.5% growth in pipe production in 2018
MOSCOW. April 17 (Interfax) - The Russian Industry and Trade Ministry is forecasting Russian steel production of 69.8 million tonnes in 2018, according to Ministry materials.
68.7 million tonnes of steel were produced in 2017, meaning that output may grow 1.6% this year.
Output of finished steel products in 2018 will total 61.8 million tonnes compared with 60.9 million tonnes in 2017, for growth of 1.4%, according to the ministry. Output of long products is expected to grow 1.5% to 19.6 million tonnes, with rolled product output expected to rise 1% to 28.2 million tonnes, the ministry said.
Output of steel pipes in 2018 is expected to reach 11.7 million tonnes, up 3.5% over 11.3 in the in the previous year.
Iron ore concentrate output in the year may reach 98.9 million tonnes, up 4% compared with 95 million tonnes in 2017, according to the ministry materials.