“The Russian market is too small for us, we can’t achieve our growth goals in this market, considering [the slow] rate of its growth,” Oleg Bagrin, NLMK’s chief executive officer, said.
Bagrin said NLMK expects that Russia's 2018 steel consumption will increase by 1.5-2%, and the country's long-term growth rate will be around just 1%.
In 2017, Russia consumed 39.2 million tonnes of steel, according to the World Steel Association (Worldsteel). It is the ninth-largest steel-consuming country in the world.
NLMK produced 13.2 million tonnes of crude...