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Development of metallurgy in Russia and other CIS countries
ArticleName Overcoming the crisis in the iron and steel industry: the first results
ArticleAuthor Yu. L. Adno.

Yu. L. Adno, Ph.D., Head of Sector, Institute of World Economy and International Relations, Russia;


The paper considers preliminary results of overcoming the crisis by the iron and steel industry. Global iron and steel industry in 2011 is characterized by the tendencies of recovering growth — absolute pre-crisis level of global production and consumption of metal products has been exceeded. It can be stated now that catastrophic forecasts of long-term recession and repeated “crisis waves” are far from reality. Russian iron and steel industry has been also suffered from the crisis; steel production, consumption of rolled products and charge of metallurgical enterprises have decreased. The most important events in the Russian iron and steel industry during 2004–2010 are listed and analyzed. However, hopes for quick economical restoration missing the phase of post-crisis stagnation with oscillation of business activities on the level before pre-crisis one have been also realized not completely. At the same time, evident positive tendencies in several sectors of global economics can be observed. The lessons of crisis have revealed weak features of the metallurgical complex, 6 practical recommendations are given and they will be taken into account in further development of Russian works.

keywords Iron and steel industry, economical crisis, recession of production, metal products, demand, saving of power resources, profit, finances, support, strategy, profitability

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Language of full-text russian
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