Russian Steel Use Drops 15% in First Quarter as Economy Slows

A decline in Russian steel consumption accelerated in the first quarter as the economy slowed, according to Severstal PJSC, one of the country’s top steelmakers.

“The situation in the sector remains challenging,” Chief Executive Officer Alexander Shevelev said in a statement Tuesday. “Steel demand in Russia continues to decline, with consumption down 15% year-on-year in the first three months of 2026.” That surpasses the 14% drop for the whole of 2025.