In the late 19th - early 20th centuries Russian industry entered the historical period of rapid development. At that time, a monopoly emerged in the metallurgical industry, which was the backbone of the Russian industrial economy. Technological innovations in the metallurgical industry, the active usage of the various forms of the organization of production associations and the introduction of bank capital contributed to the high concentration of production in the metallurgical industry and the accumulation of capital, providing the necessary conditions for the emergence and development of monopoly organizations. The metallurgical industry, as the raw materials sector of Russia, plays a vital role in the modernization of Russian industry, the construction of infrastructure, the military industry, and the development of rail transport.
Shengjie et al. (Mon,) studied this question.