The head “Severstal” has predicted the fall in prices for metallurgical raw materials


The head of the metallurgical company “Severstal” Alexey Mordashov has predicted the fall in prices for metallurgical raw materials in the coming year in the range of 10-15%. His predictions, he said in an interview with TV channel “Russia 24” on the sidelines of the world economic forum (WEF) in Davos.

“Steel consumption in the world has again started to rise, but China slows steel production, takes power. Probably, we can expect that the surge of prices for raw materials, which was to be held. Prices will gradually fall, but probably will not fall to levels that were in early 2016,” said Mordashov.

He predicted that the price drop may be “a few tens of percent, in the range of 10-15%”. “Maybe more, hard to tell,” he said.

The representative of “Severstal” said that Mordashov had in mind the fall in prices for metallurgical raw materials (ore and coal), which is steel.

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