Russian steelmakers are planning to introduce new steel production and processing facilities by 2018, according to MMK’s Maxim Lapin, director of business development and performance management.
Mr Lapin was speaking at the New Horizons in Steel Markets 10th Annual Conference organised by Platts.
By 2018, coated steel production will increase by a combined 2.7Mt, crude steel production will go up by 4.1Mt and long steel production by 3.5Mt.
According to Lapin, Russia will supply more coated steel products to export markets in addition to meeting the needs of its domestic market.
Over the past 15 years, claims Lapin, Russian steel consumption of MMK’s product range increased by 80%, resulting in a decline in steel imports.
Lapin said that MMK plans to increase its share of domestic steel sales within overall sales to 75% by 2025. Currently the figure is 67%.
CIS, MENA and Turkey remain key markets for MMK exports.