On the morning of December 12, a fire broke out at the "Mechanical Plant" in the city of Orsk, Orenburg region. According to Russian media and the Astra outlet, the fire engulfed workshops that produce artillery shell casings and components for multiple-launch rocket systems. The enterprise provides more than 50% of Russia’s artillery shell casing production and fulfills orders for systems actively used on the front line.
Due to the crisis in Russia’s metallurgy sector, steel production is declining. The industry is experiencing one of its most challenging periods in recent years. According to the “Russian Steel” association, steel output in 2025 is expected to drop to 66.5 million tons, with consumption falling to 38.9 million tons and rolled metal production to 58 million tons. The export of rolled products between 2021 and 2024 decreased by 35%, to 20 million tons. Rosstat statistics confirm the downturn: from January to October, pig iron output fell by 5.6%, unalloyed steel by 2%, and alloy steel by nearly 15%.
Major companies are recording a sharp deterioration in performance. Nornickel expects a deficit in the palladium and platinum markets in 2025–2026, and in the copper market by 2026. According to the company’s experts, excluding investment demand, the palladium market in 2025 will remain relatively balanced. However, considering investment activity, a deficit of 0.2 million ounces is expected. The 2026 situation will depend on investment dynamics. As for copper, the corporation forecasts a small surplus in 2025: supply is expected to reach about 27.7 million tons, while demand will amount to 27.6 million tons. In 2026, both figures are expected to rise, leading the market into deficit.
