Moody 's predicts that steel demand growth in Russia will slow to 1-2% in 2020 after an abnormally high growth in 2019.
“The sharp rise in demand up to 4-5% in 2019 was mainly due to recurring factors and is not stable. Steel demand in Russia will grow by 1-2% in 2020 due to weak growth in most key steel production sectors. Business confidence in the construction sector, which is the main domestic steel buyer, remains low, although it has increased since 2018, ”the agency said in a report.
Moody 's added that the plans of the Russian government to increase housing construction by 50% by 2024 and the announced modernization of infrastructure may cause an increase in domestic demand for steel, although so far no progress in this direction has been seen. p>
