Market Segment
July 14, 2020
CRU: How Russian Steelmakers Could Capitalize in a Post Covid-19 World
Written by Iris Speelmanns
By CRU Analysts Irina Melkonyan and Iris Speelmanns, from CRU’s Steel Sheet Products Market Outlook
Russia is among the biggest steel exporters in the world, delivering to a wide range of destinations. However, steel demand in all regions diminished as the world was hit by Covid-19 and most steel producers globally have struggled. Unlike steelmakers in other regions, Russian producers did not idle capacity but extended maintenances and lowered capacity utilization in order to reduce output. Going forward, however, they will have to decide whether to take more decisive measures to keep production restricted, dependent on their ability to leverage their cost competitive advantages and the growth opportunities that export markets present.
