Complex Analysis of the Value Chain of Russia’s Ferrous Metallurgy Based on the 2021 Interindustry Balance

Objective. The article under consideration presents a comprehensive analysis of the value chain of the Russian ferrous metallurgy industry based on the methodology of the inter-industry balance and input-output tables. The study reveals the economic role of the industry, the structure of production and consumer links, as well as sustainability in view of external constraints. Scenario modeling is utilised to evaluate the consequences of declining exports and the possibilities of compensation through domestic demand and import substitution. The scientific novelty of the research lies in its integration of inter-industry analysis with an assessment of the structural adaptability of the industry. The study employs a quantitative assessment of the links between sectors including calculation of full cost coefficients and multipliers. It is specifically applied to the Russian ferrous metallurgy sector in reference to the data of 2021. The findings emphasise the necessity for modernisation, in-depth processing and the development of internal industry links. Therefore, the authors suggest measures to be implemented for reducing raw material dependence, increasing added value and ensuring the sustainable development of metallurgy in the context of global transformations.

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