BRIC.TV Logo
Home/MARKETS/CHINA/Article
MARKETS

Severstal plans steel production of 11.2-11.3 million tons in 2026

Severstal CEO Alexander Shevelev revealed plans to produce 11.2 million to 11.3 million metric tons of steel by 2026 at St. Petersburg International Economic Forum. He stressed that this goal takes into account persistent challenges within the industry, underscoring the company's commitment to efficiency and customer demands during a downturn in steel sector.

BRIC Team
BRIC Team
Jun 5, 2026 · 1 min read · 2 views
Severstal plans steel production of 11.2-11.3 million tons in 2026

Key Takeaways

  • •Severstal aims to produce 11.2 to 11.3 million metric tons of steel in 2026, nearing full capacity, according to CEO Alexander Shevelev.
  • •Shevelev highlighted the company's focus on internal efficiency and cost management to navigate the steel sector downturn.
  • •He warned that it's 'still too early to talk about 2027' regarding production forecasts due to current uncertainties.
  • •The 29th St. Petersburg International Economic Forum runs from June 3 to 6, addressing the global economy's evolving landscape.
  • •Severstal plans to provide a comprehensive capital expenditure forecast at the beginning of 2027, indicating a shift from peak investment.

Severstal aims to churn out between 11.2 and 11.3 million metric tons of steel in 2026,nearing full capacity,CEO Alexander Shevelev said. At St. Petersburg International Economic Forum,he stressed this target comes amid industry challenges, not growth hopes.

Shevelev outlined a strategy centered on internal efficiency, cost control, and nimble supply and distribution. Severstal's also eyeing customer needs,niche markets to weather steel sector downturn.

Looking ahead, Shevelev warned against 2027 production predictions,saying, "It is still too early to talk about 2027; we cannot make such forecasts in the current situation." He reaffirmed company's focus on full capacity use despite uncertainties.

For capital expenditures,Severstal will share a detailed forecast in early 2027. Shevelev hinted the firm likely moved past peak investment, now focused on wrapping up major projects.

The 29th St. Petersburg International Economic Forum,from June 3 to 6, tackles global economy's changing dynamics. Hosted by Roscongress Foundation,forum is stage for talks on new development models amid economic shifts…

#Business & Economy

Share this article

Related Articles

Congress questions ED and CBI for inaction on Rajesh Exports' alleged financial irregularities

Congress questions ED and CBI for inaction on Rajesh Exports' alleged financial irregularities

Congress party, under Pawan Khera's leadership, has expressed concerns about Enforcement Directorate's lack of action on alleged financial misconduct at Rajesh Exports, which posted revenues around ₹15.15 lakh crore. Consequently, Rajesh Exports’ shares have dropped for two straight days, reaching the 5% lower circuit limit due to worries over government regulatory shortcomings.

BRIC Team

Jun 5, 20260
Dow Jones climbs 1.73% to record high as S&P 500 rises 0.41%

Dow Jones climbs 1.73% to record high as S&P 500 rises 0.41%

On Thursday, Dow Jones Industrial Average jumped 1.73%, reaching a record closing high, driven by optimism about possible resolutions to conflict in Iran. This upbeat momentum gained additional support when U.S. House of Representatives approved a measure aimed at restricting President Donald Trump's military actions in the area.

BRIC Team

Jun 5, 20260
EAEU integration helps member states withstand external shocks, says Russian deputy PM

EAEU integration helps member states withstand external shocks, says Russian deputy PM

During St. Petersburg International Economic Forum, Russian Deputy Prime Minister Alexey Overchuk emphasized importance of integration within Eurasian Economic Union to tackle challenges arising from Middle East crisis. He cautioned that UNCTAD forecasts indicate a slowdown in global trade by 2026, driven by geopolitical tensions and tariff wars.

BRIC Team

Jun 5, 2026•2 views
US economy adds 172,000 jobs in May as hospitality sector hires for World Cup

US economy adds 172,000 jobs in May as hospitality sector hires for World Cup

In May, U.S. economy saw an addition of 172,000 jobs, driven largely by hospitality sector, which accounted for 70,000 of those positions as businesses geared up for World Cup. However, despite this job growth, unemployment rate remained unchanged at 4.3%, sparking worries about consumer spending due to high costs linked to tournament.

BRIC Team

Jun 5, 2026•1 views
Iran's inflation reaches highest level since World War II, impacting food prices

Iran's inflation reaches highest level since World War II, impacting food prices

Inflation in Iran has hit a staggering 77.2 percent, marking the highest rate in 80 years, as reported by Central Bank of Iran. With prices for basic goods skyrocketing, many residents are feeling the pinch. Take 63-year-old Mashhadi Firouz, for instance; he now faces rice prices that have surged from 1.8 million rials to more than 5 million rials.

BRIC Team

Jun 5, 2026•1 views
India and U.S. set to execute first phase of trade pact by mid-July 2026

India and U.S. set to execute first phase of trade pact by mid-July 2026

India's Minister of Commerce and Industry, Piyush Goyal, revealed that U.S. and India are on track to finalize the first phase of their interim trade agreement by mid-July. This deal is designed to strengthen trade relations, featuring a reduction in U.S. tariffs on Indian goods from 50% to 18%, which will boost India's competitive position.

BRIC Team

Jun 5, 2026•1 views
View All Articles