Russia’s steel exports are expected to rise by 19% in 2025, reaching 24 million metric tons, compared to 20 million mt in 2024, according to Alexei Sentyurin, president of the Russian Steel Association.
The upward revision follows the abolition of export duties in January, boosting the competitiveness of Russian steel in global markets. Initially, exports were forecast to grow only 2.5%, but stronger external trade conditions have prompted a major adjustment.
However, domestic steel demand is set to fall by 14% to 38 million mt, the lowest since 2011, due to weakness in key sectors:
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Automotive: down 36.4%
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Mechanical engineering: down 30%
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Energy: down 19.4%
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Construction: down 10.5%
Total steel production is projected to decline from 61 million mt in 2024 to 58 million mt in 2025, as mills prioritize export-oriented production amid weak local consumption.
VietnamSteel by Hoa Sen Group
