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12 Jun

Novostal-M reduces steel production amid excise taxes, duties

Russia’s Novostal-M holding, which includes Abinsk (AEMZ) and MZ Balakovo, has reduced steel production, replacing it with semi-finished products, says the company’s main shareholder. “In February, we were forced to reduce the production of electric steel by 20% on-year, replacing it with purchased semi-finished products,” Ivan Demchenko tells Russian state media Interfax. “We are reducing the production of liquid steel due to the bur…
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