The paper is devoted to the study of socio-economic aspects of the production of Russian steel. A distinctive feature of the Russian steel industry is that it is deservedly considered one of the basic sectors of the national economy. The paper proves that the dynamics of production began to serve as an indicator of the development of the Russian industry and economy. It is shown in which industries steel is used in the national economy. The paper shows that steel production plays a special important role in the Russian economy. The place of Russia in the world steel market is shown. The ranking of the leading countries in the production of steel is presented. The authors have substantiated and highlighted the following main socio-economic aspects of steel production in Russia: production and economic; social; financial;environmental and integration. It is stated that the revealed aspects determine state and development prospects of Russia’s metallurgical complex.It is also shown that the systemic crisis in production is aggravated by the social aspect. The influence of the production of steel on the formation of aspects of the vital activity of the population in Russian single-industry cities is revealed. Steel enterprises form the industrial specialization of such cities and significantly affect the vital activities of people. The authors have made use of the material concerning the features of mono-industrial cities located in the Arctic zone of the Russian Federation; special attention has been paid to the residents’ socialproblems.