Manturov says Russia’s steel output may rise 4–5% in 2023

MOSCOW, May 25 (PRIME) -- Russia’s steel production may grow 4–5% on the year to 74–75 million tonnes in 2023, Deputy Prime Minister and Industry and Trade Minister Denis Manturov told reporters on Thursday.

“We have seen generally positive dynamics in the metallurgical industry since the start of the year. … The load of the facilities amounts to almost 100%. The growth of the internal market contributes to it in the first place, as well as higher export supplies to the friendly states’ markets,” Manturov said.

“If we continue in the same direction, we will reach 74–75 million tonnes, that is 4–5% more than last year,” he said.

Russian’s metallurgical enterprises profitability is positive now, but it is not “super profits,” as it was, he added.

In 2022, the ministry reported the negative profitability of a number of metallurgical companies, considering a sharp decline in exports and a reduction in production load.

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