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Recovering rouble, weak sales hit Russia steel stocks

Economists see country's GDP contracting 4% this year as plunge in crude trading exacerbates impact of sanctions

Shrinking consumption in China is forecast to further diminish demand for Russian steel, pushing down prices, while domestic prices of the metal will have to be lowered to match the rouble rally.

New York

RUSSIAN steelmakers are falling out of investors' favour as slack demand and a strengthening rouble dim the profit outlook for some of the companies that had skirted a broader sell-off amid the country's financial crisis.

PAO Severstal, which rallied 57 per cent last year...

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