13 Apr 2023 12:07

Russian steel industry operating at 90%-95% of capacity thanks to construction, new regions, exports - official

MOSCOW. April 13 (Interfax) - Russian steelmakers are currently operating at 90%-95% of capacity, Deputy Industry and Trade Minister Viktor Yevtukhov said.

"We now have 90%-95% capacity utilization in the steel industry. The situation is acceptable. Steelmakers had a slump last year, around the spring to early summer, but this is already in the past. Now we've even had scrap prices increase by 46% because there is huge demand for it and because all of our steel plants are inundated with orders and are working hard," Yevtukhov told reporters.

Demand is being driven primarily by new regions, construction and exports, he said. The resurgence of steel exports is being driven by the development of new markets, as well as increased demand from Turkey, Yevtukhov said.