employee
employee
student
Russian Federation
This study is a comprehensive analysis of the prospects for the development of NLMK PJSC in the context of the sanctions regime and structural transformations of the metallurgical sector. The paper examines the impact of restrictions on the export of steel products, the dynamics of operating costs and the company's dependence on government price regulation that developed after 2022. Particular attention is paid to imbalances in commodity exchange, including forced discounted sales of metal products and dependence on imported equipment with hyper-margins. In conclusion, scenarios of short-term stabilization (including artificial debt optimization) and long-term risks associated with technological degradation and loss of competitive positions are substantiated. The results of the study confirm the dual nature of the company's sustainability, combining raw material rents with increasing structural imbalances.
NLMK PJSC, sanctions restrictions, raw material model, price dumping, technological lag, government regulation, dividend policy, market volatility
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