Severstal Plans Steel Production of 11.2-11.3 Million Tons by 2026
Severstal confirms steelmaking plans for 2026 — CEO
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Severstal, a Russian mining and metals company, aims to produce between 11.2 and 11.3 million metric tons of steel in 2026, achieving nearly full capacity. CEO Alexander Shevelev emphasized this goal is driven by internal efficiency rather than industry growth amid current downturns.
- 01Severstal's steel production target for 2026 is set at 11.2-11.3 million metric tons.
- 02The company plans to achieve this production level through internal efficiency and cost control.
- 03CEO Alexander Shevelev stated that making forecasts for 2027 is currently premature.
- 04Severstal has passed the peak of investments and is focusing on completing existing large projects.
- 05The St. Petersburg International Economic Forum (SPIEF) is discussing new models of global development amid economic transformations.
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At the St. Petersburg International Economic Forum (SPIEF), Severstal's CEO Alexander Shevelev confirmed the company's target steel production for 2026 will be between 11.2 and 11.3 million metric tons, indicating almost full capacity utilization. This ambitious goal is not based on anticipated industry growth but rather on the company's internal efficiency, cost control, and flexibility in supply and distribution. Shevelev noted that it is too early to make production forecasts for 2027, emphasizing a focus on maintaining full capacity utilization. He also mentioned that Severstal has likely passed its peak investment phase and is currently dedicated to completing large ongoing projects. The SPIEF, held from June 3 to 6, is addressing the need for a new model of global economic development in light of ongoing transformations worldwide.
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Severstal's production plans could influence the local economy by sustaining jobs and supporting related industries in the region.
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