Lower exports of long products behind slight drop in Russian steel output this year -minister

MOSCOW. July 15 (Interfax) - Lower exports of long products are behind a slight drop in Russian crude steel output this year, Industry and Trade Minister Anton Alikhanov said during an event dedicated to Metallurgist Day with Russian President Vladimir Putin in attendance.

Alikhanov said the state continue to systemically generate strong domestic market demand for steel products, thanks to large-scale infrastructure construction projects, including for new national projects.

"Taking this into account, metallurgical companies are increasing investments in new high-tech production facilities and in greening existing facilities," he said.

The Russian State Statistics Service has said Russian steel product output fell 2.8% year-on-year in January-May 2024 to 35.9 million tonnes. Pig iron output fell 5.1% to 21.7 million tonnes.