FT: Russian metals producers forge ahead

Financial Times reports that Russia’s six largest listed metal companies forecast stronger spending this year, with combined capex estimated at $5.68bn, 52 per cent higher than in 2015.

It shows a renewed confidence in the industry’s prospectives: “Despite the threat of new western sanctions against the country and US tariffs on aluminium and steel, Russian metal executives have a spring in their step, as commodity prices continue to rise, borrowing costs come down and painful debt restructurings and strategy shifts over the past five years begin to bear fruit.”

We already reported about a number of investments in Ural’s steel industry, i.e. MMK and Kushva Factory. The plant upgrades offer also business opportunities for European supplier.

Read FT article
Foto: dpa

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