In 2016 steel consumption dropped by 4% YoY, to 40 million tons. This year consumption is expected to grow by 1.2% YoY, to 40.48 million tons.
The demand for steel in Russia could grow for the first time in the last 4 years thanks to the improvement of the economy. Still market participants do not expect a dramatic increase.
2016 was interesting for Russian metal companies, as there was no traditional winter price drop. (Ukrainian metal)