Metal consumption in Russia decreased by 10% in the quarter

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For 9 months of 2024, metal consumption in Russia amounted to 10.8 million tons, which is 2.7% lower than the same period last year. This is stated in the analytical material of the company "Severstal".

According to a market participant, demand fell most significantly in the third quarter - by 9.2%. This was explained by the high stocks accumulated by both producers and consumers during the first half of the year. Also, one of the factors reducing demand was the high key rate, limited financing, and postponement of project implementation.

Metal consumption in the country is expected to amount to 43.7 million tons by the end of 2024. Compared to the previous period, the decrease will be 5.7%.

• Earlier it was reported that in the warehouses of the London Metal Exchange (LME) in October,