European countries refuse to buy Russian steel products, Russian Prime Minister Mikhail Vladimirovich Mishustin said at the Made in Russia Forum in Moscow. But Russia's steel exports to the Asia-Pacific region and the CIS countries have grown. Taking into account other factors, exports of Russian-made metallurgical products and other commodities to Asian countries are likely to grow further.
However, the "2030 Steel Strategic Plan" previously released by the Russian government pointed out that the growth of steel production capacity in Asia and the Middle East will make it difficult for Russian steel manufacturers to shift their export direction from the West to the East.
It is reported that the European Commission recently announced the eighth round of sanctions against Russia, expanding the import ban on Russian steel products.
In the latest edition of its steel demand forecast report, the worldsteel association said that despite rising EU sanctions, Russia's steel demand is expected to contract less than Russia's on the back of high oil prices and the country's government support for the construction industry. expectations at the beginning of the Ukrainian conflict.
