Severstal Anticipates 7-9% Demand Decline in 2026, Says CEO
Severstal expects depend drop this year — CEO
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Severstal's CEO Alexander Shevelev predicts a 7-9% drop in demand for 2026 due to economic factors like high interest rates and a stronger ruble. Despite this, he anticipates potential recovery in 2027 under favorable conditions, though he advises caution due to market uncertainties.
- 01Severstal expects a demand decrease of 7-9% in 2026.
- 02The decline is attributed to high key rates and a stronger ruble.
- 03CEO Alexander Shevelev emphasizes the uncertainty of these forecasts.
- 04A potential recovery in demand is anticipated in 2027 under favorable conditions.
- 05Shevelev advises caution in interpreting these predictions due to market volatility.
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At the St. Petersburg International Economic Forum, Severstal's CEO Alexander Shevelev indicated that the company anticipates a 7-9% decrease in demand for 2026. This forecast is influenced by factors such as a high key interest rate and a strengthening ruble, which makes imports more competitive. Shevelev noted that while there is a possibility of demand recovery in 2027 under certain favorable conditions, the current economic landscape remains highly uncertain and subject to rapid changes. He urged stakeholders to approach these forecasts with caution, highlighting the unpredictable nature of the market.
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The anticipated drop in demand could affect Severstal's production and revenue, impacting the Russian metals market.
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