NLMK, one of Russia's top 4 steel companies, recently forecasted that in 2022, Russia's steel exports will drop by 23%, and finished steel product exports may decline by 40%-45%.
In addition, NLMK also forecasted that the total amount of Russian steel production would reduce by about 15% in 2022, of which 26% in the second half of this year.
Europe is Russia's main sales market, and the main reason for the decline in exports was that the sales of finished steel products were restricted in the European market.
Source: YIEH
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