Russian Participants of World Black Market Metals in Geo-Economic Conditions of Instability

The research purpose is to conduct a comprehensive analysis of possible directions for increasing the economic potential of the Russian metallurgical industry in the context of the digital transformation of the economy on a global scale. The scientific novelty of the study lies in the consideration of the impact of changes in the economic situation of Russia in the context of unprecedented economic sanctions, digitalization of the economy and geo-economic uncertainty on the dynamics of exports and imports of metallurgical products, as well as identifying prospects for the development of the export potential of Russian participants in the global ferrous metals market. The relevance of the research issues is determined by the need for companies in the Russian metallurgical industry to find their own strategic development vector to export steel to world markets. Based on the analysis of statistical data, this contribution examines current issues on the development of the global ferrous metals market. The authors’ conclusions relate to causes of crisis phenomena in the metallurgical industry under the influence of uncertainty and current trends in technology development, regulatory requirements, geopolitical restrictions and the digitalization context. Possible ways to overcome crisis phenomena are proposed for Russian participants in the global ferrous metals market, including through the development of import substitution.