Today the company reported for the first half of the year. Net profit decreased by 55% and revenue by 11%. Sales of steel products increased by 6%.
The market conditions are not the best for ferrous metallurgy companies. The economy is slowing down. Loading of ferrous metals on the Russian Railways network fell by 17% in the first half of the year, domestic demand is weak. At the same time, the company has almost completely refocused on the domestic market, where the pace of construction has slowed down, and developers are in no hurry to launch new projects. They themselves are trying to "survive" at high stakes. Metallurgy will revive only with the Central Bank's rate of 12% or less.
