Severstal confirms steelmaking plans for 2026 — CEO

ST. PETERSBURG, June 5. /TASS/. Severstal confirms its plans for steel production in 2026 in the range of 11.2-11.3 million metric tons, which corresponds to almost full capacity utilization, CEO of the Russian mining and metals company Alexander Shevelev said in an interview with TASS at the St. Petersburg International Economic Forum (SPIEF).

"Severstal still aims for steel production in 2026 in the range of 11.2-11.3 million tons - this is practically full capacity utilization. The company maintains this plan not due to the expected growth of the industry, but in spite of the current downturn: through internal efficiency, costs control, supply flexibility, and pre-established distribution, as well as a focus on customer needs and occupying niche markets," he said.

The CEO stressed that making production forecasts for 2027 is still premature. "It is still too early to talk about 2027; we cannot make such forecasts in the current situation, but of course, we will strive to maintain full capacity utilization," he added.

A full forecast for capital expenditures for the next period will be presented at the beginning of 2027, Shevelev noted.

"In any case, we assume that we have passed the peak of investments. Right now, we are focused on completing large projects that we have already started," he said.

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.