Severstal views current industry situation as crisis-like, CEO says
Alexander Shevelev noted that the economy cooldown due to the high key rate had already led to a 15% drop in the consumption of metal products in the real sector in the first quarter of 2026
ST. PETERSBURG, June 5. /TASS/. Severstal assesses the current situation in the metallurgical industry as crisis-like, CEO of the Russian mining and metals company Alexander Shevelev said in an interview with TASS at the St. Petersburg International Economic Forum (SPIEF).
"The situation in the industry is extremely challenging, crisis-like," he said.
Shevelev added that the economy cooldown due to the high key rate has already led to a 15% drop in the consumption of metal products in the real sector in the first quarter of 2026.
The 29th St. Petersburg International Economic Forum (SPIEF-2026) is taking place on June 3-6. The forum program is dedicated to shaping a new model of global development amid the ongoing transformation of the world economy. The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its official general information partner.
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