Alexander Shevelev

Alexander Shevelev is the CEO of Severstal, one of Russia's leading steel producers. In a recent interview, he expressed concerns about the potential suspension of some metallurgical operations in Russia due to market conditions and emphasized the need for a more flexible monetary policy to avoid such outcomes. He highlighted a projected decline in steel demand, forecasting a decrease of around 10% this year, while also noting that steel prices in the domestic market are at multi-year lows. Despite these challenges, Shevelev remains committed to completing major investment projects to ensure the company’s future competitiveness.