In a recent industry forecast, Severstal, one of Russia’s leading steel producers, has projected a steady growth in the country’s steel consumption. According to the company’s chief executive, Alexander Shevelev, steel consumption in Russia is expected to increase by 1-2% annually over the next five years.

This growth rate, while modest, could potentially accelerate if the country’s GDP expands as anticipated. Shevelev’s comments, made to the Russian state agency TASS, highlight a positive outlook for the Russian steel industry amidst a historical high in consumption levels. The forecast is seen as a solid foundation for further growth, signaling a resilient market in the face of global economic challenges.