Business · Energy & Commodities · 11 hrs ago
Severstal expects Russian metal consumption to fall 0.5% in 2026
Severstal now expects Russian metal consumption to fall about 0.5% in 2026, revising its earlier forecast of a 7% drop.
The company is one of Russia’s largest steel producers, and its CEO, Alexander Shevelev, said the industry remains in a difficult position.
Metal consumption fell around 14% in 2025, and the market has not yet regained those lost volumes.
Demand rose about 1% in the first nine months of 2026 compared with the same period a year earlier.
Some pent-up demand was met in the third quarter, prompting Severstal to improve its forecast.
The company expects demand to cool seasonally in the fourth quarter, and the market remains below pre-downturn levels.
Severstal expects metal consumption in Russia to decline by around 0.5% in 2026.
The company improved its forecast from a 7% decline, citing partial realization of pent-up demand in the third quarter.
Metal demand rose about 1% year on year in the first nine months of 2026.
The Russian market has not recovered the volumes lost in 2025, when consumption fell around 14%.
Severstal expects demand to cool seasonally in the fourth quarter.
- Who
- Severstal, whose CEO is Alexander Shevelev.
- What
- The company expects Russian metal consumption to fall around 0.5% in 2026, revising its forecast from a 7% decline.
- When
- The forecast is for 2026. Severstal reported it on October 20, 2026.
- Where
- Russia.
- Why
- Demand added about 1% year on year in the first nine months, and Severstal cited partial realization of pent-up demand in the third quarter.
This story does not have two clearly opposing sides.
Metal consumption in Russia fell around 14%.
Russian metal demand rose about 1% year on year.
Severstal cited partial realization of pent-up demand in improving its forecast.
Severstal reported it expected metal consumption in Russia to decline around 0.5% for 2026.
- 2026 forecast
- Around 0.5% decline in Russian metal consumption
- Previous forecast
- 7% decline
- 2025 consumption
- Fell around 14%
- First nine months of 2026
- Demand rose about 1% year on year
- Company CEO
- Alexander Shevelev
What people are saying
The situation in the industry remains challenging.
Following a sharp drop in metal consumption in Russia in 2025 by around 14% the market has not yet managed to recover those lost volumes in 2026: demand only added about 1% in the first nine months year-on-year.
Taking into account the partial realization of pent-up demand in the third quarter, we have improved our forecast for 2026: from -7% to around -0.5%.