The Russian metallurgical industry has faced a significant decline in demand, with metal product consumption in the real sector of the economy decreasing by 15% in the first quarter of 2026. This assessment of the situation was voiced by Severstal CEO Alexander Shevelev.
According to the company's head, the situation in the metallurgical sector remains extremely difficult and has already shown signs of a crisis. He noted that one of the key factors putting pressure on the market was the cooling of economic activity caused by the persistence of a high key interest rate.
Shevelev reported that the consequences of tight monetary policy are already affecting industrial metal consumption. As a result, demand for metal products from the real sector significantly decreased in the first months of 2026.
The statement was made during the St. Petersburg International Economic Forum, where business and government representatives are discussing the current state of the Russian economy and the prospects for key industries.
