OMK Participates in International Steel Summit in Moscow

The United Metallurgical Company (AO OMK, Moscow) participated in the 15th International Steel Summit on "Russian Steel and the Global Market: Development Priorities" held in Moscow on June 6, 2017.

The summit opened with an address by Russia's Deputy Minister for Industry and Trade Sergey Tsyba regarding priority objectives for the metal industry in view of the Government's industrial policy and a word of greetings for the participants in the summit from OMK Board Chair Anatoly Sedykh, Oversight Council Chair, Russian Steel Association of Steel and Cast Iron Manufacturers.
In his introductory speech, Anatoly Sedykh pointed out that the metal sector had entered an era of making new connections. "International partnerships to implement projects in the sector are a large-scale mutually beneficial process that results in greater opportunity, better product and higher efficiency for Russian metal makers", he emphasized.

The primary matters addressed at the summit were the search for solutions to improve the competitive position of steel products, ways to increase domestic product usage, and the prospects of the steel sector as one of the drivers behind Russian industrial growth.

Anatoly Sedykh spoke about OMK's efforts to improve manufacturing efficiency. "It is the ability to produce effectively and efficiently rather than technical capabilities that is becoming increasingly important today. OMK is placing special emphasis on developing the production system approaching the performance of the world leaders' aerospace industries in this respect. This helps save our clients a lot of resources and improves the company's financial results.

Anatoly Sedykh also noted that it is not about the total amount of steel the country produces (Russia is fifth globally) but about the amount consumed per capita (Russia is 16th*). Therefore, increasing the per capita consumption should become a priority. "And the metal industry is capable of satisfying this demand", he said.

OMK Director for Marketing and Strategy Ilya Kolomeyets made a presentation at the summit. He spoke about the company's advances in improving the competitive standing of its products and in increasing its domestic consumption. "We need a coordinated approach to getting Government support for establishing new metal-making facilities, and this should be done based on a transparent algorithm for selecting projects for trilateral cooperation involving the Russian Ministry of Industry and Trade, the Russian Steel Association, and the independent expert community. Priority should be given projects designed to substitute for imports. An integrated approach is also required to develop the construction industry starting with training for designers and architects, to develop the system of codes and standards. This will help increase demand for steel in the future".

*** Source: World Steel Association

Background:

The Moscow steel summit is the industry's principal discussion platform. The established format and the open nature of the discussion assure that up-to-date information is provided regarding the state of affairs in the steel and cast-iron industries, the condition of the metal markets, and the market leaders' development plans. According to regular attendees' assessments, the Summit creates ideal conditions for making business connections and informal communication.

The summit is an annual event held by the Eurasian Metals magazine and co-sponsored by the Russian Steel Association, an industry alliance of Russia' steel and cast-iron manufacturers. It involves the executives and experts with the companies that belong to the Association: EVRAZ, Metalloinvest, Mechel, MMK, NLMK, Severstal, OMK, TMK, IMH.

The Moscow International Steel Summit is held by the Eurasian Metals magazine. Assessments and forecasts for the event are provided by leading experts in the metals business and international analysts. It is one of the Summit's principal objectives to promote the development and the expansion of the business dialog among the market's principal players.