The Current State of the Problem of the Development of the Russian Market of Ferrous Metallurgy under the Conditions of the Sanction Crisis Caused by a Special Military Operation

Abstract

The article studies the current state and development problems of the Russian ferrous metallurgy market in the context of the sanction’s crisis caused by a special military operation. It is shown that the conduct of a special Russian military operation in Ukraine increases the burden on the already stretched global supply chains, and the metal markets are no exception. The metals that fell under the sanctions are considered. It is concluded that the start of a military special operation in Ukraine caused an increase in sanctions pressure on Russia from Western countries and a ban on the supply of steel products to the EU countries. It has been determined that under the current conditions, the issue of redistributing production volumes to other markets becomes the most relevant for the industry, while the replacement of falling volumes will occur by increasing supplies to Asia, the Middle East and Latin America, as well as to the domestic market.