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According to data released on February 10 by Chermet—a Russian steel industry analysis agency—Russia's production of crude steel and rolled steel products declined on both a year-on-year and month-on-month basis in January 2026, indicating that the steel industry is currently operating under pressure.
The data reveals that Russia's crude steel output in January totaled 5.6 million tons, marking a 5.4% year-on-year decrease and a 3.4% month-on-month decline compared to December 2025. 47F240 Non oriented magnetic steel, During the same period, pig iron production stood at 4.5 million tons—remaining largely unchanged from both the previous year and the preceding month—suggesting relatively stable overall operations.
Regarding rolled steel production, Russia's output of rolled steel products in January reached 5.0 million tons, down 2.3% year-on-year and 2.0% month-on-month. 47F240 Non oriented magnetic steel, Steel pipe production remained flat on a month-on-month basis but saw a significant year-on-year drop of 17.2%, falling to 700,000 tons; this indicates that downstream demand remains relatively weak.
On the raw materials front, iron ore production in January totaled 9.1 million tons—a year-on-year decrease of 1.1% and a month-on-month decline of 3%. Coke production reached 2 million tons, down 2.6% year-on-year, but up 6% month-on-month.
Previous reports indicated that the Russian government has identified the steel industry as one of 12 key sectors expected to experience a contraction in output this year, designating it as a priority for government support. To alleviate the financial burden on enterprises, the Ministry of Industry and Trade has proposed deferring the collection of excise taxes on molten steel and mineral extraction taxes on iron ore until the end of the year.
Furthermore, in response to weak domestic demand coupled with continued substantial levels of imports, the Ministry of Industry plans to propose measures to restrict the importation of ferrous metals. 47F240 Non oriented magnetic steel, On February 11, several Russian media outlets reported that the head of the Ministry had formally articulated this position during a session of the national legislature.
