Moody’s worsens outlook for Russian steel sector to negative

MOSCOW, Apr 6 (PRIME) -- International rating agency Moody’s has worsened its outlook for Russia’s steel sector to negative from stable, the agency said on Monday.

The agency attributed the move to an anticipated decline in demand for steel amid low oil prices and a weak industrial PMI.

Moody’s expects that demand for steel will fall by 3–7% this year compared with a previous projection of 1–2%.

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