Russia is expected to reach its pre-crisis level of steel product output and consumption not sooner than three years, the deputy director of the Basic Industries Department of Russia's Ministry of Industry and Trade, Alexey Pinchuk, has said.
According to Mr. Pinchuk, the increase in steel product consumption is directly related to the implementation of projects for infrastructure construction, of programs in the aviation shipbuilding and automobile industries, as well as to the development of companies with state participation.
According to the Russian Ministry of Industry and Trade, in January-August this year Russia's consumption of steel products increased by 17 percent year on year, while its consumption of steel pipes went up by 44 percent year on year.
Meanwhile, during the period in question Russia saw a 6.4 percent growth in its iron ore output, a three percent increase in its coke production, a 15.7 percent rise in its crude steel production, and a 17.3 percent growth in its finished steel product output, including a 9.3 percent rise in flat steel products and a 30 percent increase in long steel products, all compared to January-August 2009.