On the eve of Metallurgist Day, Vladimir Putin arrived on a working trip to the Ural Federal District. The first item on the agenda was a visit to the Magnitogorsk Iron and Steel Works (MMK). Accompanied by Minister of Industry and Trade Anton Alikhanov, Presidential Plenipotentiary Envoy to the Ural Federal District Artem Zhoga, Governor of the Chelyabinsk Region Alexei Teksler, as well as Chairman of the Board of Directors of Magnitogorsk Iron and Steel Works Viktor Rashnikov and MMK General ...

Olkon JSC (Olenegorsk Mining and Processing Plant, part of Severstal ) has launched an investment project to develop the Olenegorsk iron ore deposit, the company's press service said. "The project budget exceeds 5 billion rubles," Olkon General Director Nikolai Seleznev was quoted as saying. The investment plan involves open-pit mining until 2044-2045, transitioning to underground operations thereafter. Development requires relocating existing infrastructure including water pipelines, slurry ...

Russian steelmakers are proposing to index the cut-off price used to calculate the excise tax on steel, which was set at 30,000 rubles per tonne in 2022, by accumulated inflation over the past four years, Severstal CEO Alexander Shevelev said in an interview with Interfax on the sidelines of the St. Petersburg International Economic Forum. "We have submitted our proposals to the relevant ministries. They are still being discussed. We don't know what the final decision on the excise will be," ...

Steel production in Russia in May 2025 decreased by 6.9% year-on-year and amounted to 5.8 mln metric tons, according to a report by the World Steel Association (WSA). Steel production in the country within five months of this year lost 5.2% to 29.2 mln metric tons. In May 2025, China is reported to produce 86.6 mln metric tons, which is 6.9% less year-on-year. India produced 13.5 mln metric tons (+9.7%). Steel production in Japan lost 4.7%, to 6.8 mln metric tons and gained 1.7% in the United ...

"In my opinion, we cannot even rule out halting some metallurgical production facilities in the Russian Federation to balance supply," Shevelev said during an interview with the Rossiya-24 television channel. "I hope it won't come to that, and we'll manage to somewhat loosen the tight grip of monetary policy in time. But currently, all signs indicate we might face situations including even halting operations at some plants with unfavorable production costs," he said. When asked whether Severstal ...

According to preliminary data, during May 2025, the enterprises of ferrous metallurgy of the Russian Federation produced 6 million tons of steel and 5.2 million tons of finished rolled products. The year-on-year decrease in the indicators is 3.4% and 4.4%, respectively, reported the information and analytical company “Corporation CHERMET”. According to the results of January-May, steel production volumes in the metallurgical industry decreased by 5.2% to 29.1 million tons compared to the same ...

The average export quotation for Russian pig iron in May 2025 decreased by $10/t to $318/t FOB compared to April,. Despite the negative average price correction during the month, Russian pig iron export quotations gradually increased following the positive dynamics of scrap prices in Turkey. At the same time, real demand for pig iron remained weak, with stocks in the port of Novorossiysk growing significantly back in April and remaining virtually unchanged in May. This affected the reduction ...

The average price for rolled steel in the domestic market of Russia in 2025 will decrease by 11% compared to the level of last year. This forecast is given in their review by experts of the analytical company “Euler Analytical Technologies”. According to the company's forecast, the cost of 1 ton of hot-rolled steel at manufacturers (EXW basis - ex-works) this year will be $543. Last year 1 ton of rolled products in Russia could be bought for $608, in the first quarter of 2025 the weighted average ...

"On April 28, Uzbekistan hosted the opening of the anniversary edition of the International Trade Fair "INNOPROM. Central Asia". The event, having brought together representatives from 35 countries, including Russia, Uzbekistan, Belarus, Qazaqstan, Kyrgyzstan, Turkmenistan, Azerbaijan, China, Türkiye, the UAE, and Saudi Arabia, is being held at Tashkent’s brand-new business venue — CAEx Uzbekistan," shares Anton Atrashkin, Program Director of "INNOPROM. Central Asia". Over the past five ...