Lead
Steel production in Russia fell by 10.4% year-on-year in the first quarter of 2026, totaling 15.6 million tons, according to preliminary data from the information and analytical company Chermet Corporation, as carried by TASS. The decline reflects a broader slowdown in global steel output, with the World Steel Association (WSA) reporting a 4.2% year-on-year decrease in world production for March.
Coverage Comparison
The two TASS reports present data from different sources and timeframes, with some discrepancies in the March figures. The first report, dated April 10, cites Chermet Corporation's preliminary data showing March output at 5.2 million tons, a 13.1% decline from a year earlier. A second TASS report, published April 23, quotes WSA data indicating March production of 5.4 million metric tons, an 11.4% decrease. These differences likely reflect varying collection methodologies and reporting timelines, with Chermet providing national statistics and WSA offering a global dataset.
Key Claims
- Q1 2026 Steel Production: Russia produced 15.6 million tons of steel in the first three months of 2026, down 10.4% year-on-year. This figure comes from Chermet Corporation's preliminary data, as reported by TASS.
- March Figures Discrepancy: Chermet reports a 13.1% decline to 5.2 million tons, while WSA data shows an 11.4% drop to 5.4 million metric tons. Both sources acknowledge a significant year-on-year reduction.
- Other Ferrous Products: According to Chermet, finished ferrous metal production fell 6.4% to 14 million tons, iron ore output declined 7.6% to 24.6 million tons, and gross dry coke production decreased 7.3% to 5.4 million tons. Pig iron production dropped 5.8% to 12.2 million tons, and steel pipe production plunged 28% to 2 million tons.
- Global Context: Global steel production in March 2026 was 159.9 million metric tons, a 4.2% decline year-on-year, per WSA data. China produced 87 million metric tons (-6.3%), India 15.3 million tons (+9.4%), Japan 6.9 million tons (-4.1%), and the United States 7.2 million tons (+5.2%).
- Regional Trends: In March, the EU produced 11.4 million tons (-4.6%), North America 9.5 million tons (+3.5%), South America 3.6 million tons (-0.5%), and the Middle East 3.5 million tons (-33.5%). Asia and Oceania combined for 119.3 million tons (-3.9%). CIS countries, including Russia and Ukraine, produced 6.6 million tons (-7.9%).
Perspectives
While the overall trend points to a contraction in Russian steel output, the reasons behind the decline are not addressed in the available reporting. The TASS articles attribute the data to industry sources (Chermet Corporation and WSA) but do not offer causal explanations, such as potential market conditions, sanctions, or shifts in domestic demand. Analysts might interpret these figures as reflecting structural pressures on Russia's industrial sector, but further context would be needed to substantiate such interpretations.
Neither report provides commentary on the implications for the Russian economy or global markets. The drop in the Middle East production (-33.5%) stands out as a notable outlier, yet the sources do not elaborate on regional drivers. The data align with a general global slowdown, though India and North America bucked the trend with production increases.