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Finished steel production came to 4.57 million tonnes in January, a 3.3% increase from December, Russkaya Stal said.

Year-on-year finished production figures showed a 0.8% decrease, however.

January shipments to domestic end-users were up by 3.4% on the month to 2.38 million tonnes, while year-on-year figures showed a 4.5% decrease, Russkaya Stal said.

Exports made up just less than half of the total finished steel produced in January, at 2.19 million tonnes, Russkaya Stal said. In this instance, the year-on-year figures for January also came in higher, by 3.6%.

Members of Russkaya Stal account for 96% of the pig iron produced in the country as well as 90% of the crude and finished steel.