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Severstal forecasts 7-9% drop in demand for 2026, says CEO

Severstal CEO Alexander Shevelev anticipates a 7-9% drop in demand for 2026, attributing this to an economic slowdown driven by high interest rates and a stronger ruble. Speaking at St. Petersburg International Economic Forum, he shared a cautiously optimistic view regarding a possible recovery in 2027, contingent on favorable conditions.

BRIC Team
BRIC Team
Jun 5, 2026 · 1 min read · 2 views
Severstal forecasts 7-9% drop in demand for 2026, says CEO

Key Takeaways

  • •Severstal's CEO Alexander Shevelev predicts a 7-9% decline in demand for 2026 due to economic slowdown and high interest rates.
  • •The St. Petersburg International Economic Forum took place from June 3-6, focusing on global economic growth models.
  • •Shevelev expressed cautious optimism for a demand recovery in 2027, contingent on favorable economic conditions.
  • •The SPIEF-2026 aims to address pressing economic issues and strategies amid ongoing global transformations.
  • •Severstal's leadership plans to adapt strategies in response to the Russian economy's volatility and external pressures.

Severstal expects demand to drop 7-9% in 2026,CEO Alexander Shevelev said. Blame economic slowdown,high interest rates,stronger ruble making imports cheaper. Shevelev shared this at St . Petersburg International Economic Forum (SPIEF) from June 3-6.

Despite tough near-term outlook,Shevelev is cautiously optimistic long-term. He said demand might bounce back in 2027 if conditions improve. But he warned predictions are tricky with current economic volatility.

SPIEF-2026 focuses on crafting new model for global growth amid ongoing changes. Organized by Roscongress Foundation,the forum is space for tackling urgent economic challenges and future strategies .

Shevelev's comments mirror wider worries in Russian economy. External and domestic forces keep shaping market dynamics . As things change,Severstal's leaders will likely tweak strategies to handle uncertainties…

#Business & Economy#SPIEF-2026

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