14:45 GMT +306 December 2019
Listen Live
    Stupino Metallurgical Plant, Moscow Region

    Russia Retains Fifth Place in Global Steelmaking in 2016 – RIA Rating

    © RIA Novosti . Sergei Subbotin
    Russia
    Get short URL
    0 122
    Subscribe

    Russia will maintain its fifth-place steelmaking rating and fourth-most exports this year while worldwide production is expected to decline by 2-3 percent, the Rossiya Segodnya International Information Agency’s rating experts said Tuesday.

    MOSCOW (Sputnik) – Citing World Steel Association data, RIA Rating noted the first in 5 years annual decline in global steel production in 2015, dropping by 2.8 percent to close out the year at 1.6 billion metric tons. Decreased demand, growing competition and price declines are cited as the main reasons behind the weak output.

    "Russia is likely to maintain its fifth place among producers and fourth place in terms of exports, although steel output is very likely to shrink in our country because the export channel is increasingly narrowing due to antidumping restrictions while the domestic market is not ready to increase consumption," RIA Rating experts said.

    China maintained its 2015 leadership in steelmaking, increasing its global production share from 49.3 percent to 49.5 percent year-on-year, despite posting the first declines since 1981. Japan placed second with 5-percent output cuts, followed by India, one of the few countries to increase production.

    The United States dropped out of the top-three with production cuts of over 9 million metric tons, mainly attributed to consumption decreases among oil and gas and tube-rolling plants.

    RIA Rating experts see no major changes to this year’s top-10 despite continued production declines envisioned.

    Rossiya Segodnya International Information Agency is an international media group whose mission is to cover world events in a prompt, balanced, and unbiased manner. Rossiya Segodnya offers alternative views on key events in Russia and elsewhere. The agency operates a number of information resources, including RIA Novosti, RIA Real Estate, Prime, R-Sport, RIA Rating and InoSMI. Rossiya Segodnya is the news agency most commonly cited by the Russian media and is building the citation rate of its foreign brands, while leading in the Russian blogosphere and social media.

    Related:

    UK Gov't Ready to Fund Port Talbot Steelworks Amid Tata Steel Exit
    UK Minister Flies to Mumbai for Talks to Stave Off Crisis in Steel Industry
    Filmmaker Captures the Creation of a Damascus Steel Sword in Gorgeous 8K
    UK Gov't Slammed as Minister Knew of Steel Crisis a 'Few Weeks Ago'
    Mexico Revises Duties on Steel Plate Imports From Russia, Ukraine, Romania
    Russia to Assist Cuba in Construction of Four Power Units, Steel Plant
    Tags:
    steel, World Steel Association, RIA Rating agency, Russia
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik