Russia expects 5 pct drop in steel output in 2025

MOSCOW, Dec. 25 (Xinhua) -- Russia expects its steel output to decline by about 5 percent in 2025 to 67 million tons, First Deputy Prime Minister Denis Manturov said Thursday.

In an interview with the newspaper Vedomosti, Manturov said that the decline reflected the cooling demand for metal products in key domestic consumption sectors, including construction.

Meanwhile, he said Russia recorded a 20 percent increase in steel exports compared with last year, the first growth since the introduction of Western sanctions, which has largely helped domestic steelmakers offset the weaker demand in the home market.

Next year, domestic demand is expected to rise due to large-scale infrastructure projects, such as the Moscow-St. Petersburg high-speed railway, along with increased localization efforts, which could boost steel demand in the fuel, energy and automotive sectors, Manturov said. ■