Shares in metal companies underperformed the broader market following statements from U.S. President Donald Trump on a trade war the next day after he announced steep tariffs on imports of steel and aluminium.

The rouble shed 0.5 percent to 57.12 versus the dollar as of 1358 GMT after briefly touching 57.27, its weakest level since Feb. 14.

The rouble on Thursday largely ignored an address by President Vladimir Putin, who delivered one of his most bellicose speeches in years and said Russian missiles could hit almost any point in the world and evade a U.S.-built missile shield.

But a drop in prices for oil, Russia's key export, battered the Russian currency. Versus the euro, the rouble weakened 0.9 percent to 70.27 , a level last seen on Feb. 16.

Prices for Brent crude declined 0.5 percent to $63.53 per barrel, having traded at $67.50 and above earlier this week.

The rouble also lost support from month-end taxes until the second half of March. Taxes usually prompt export-focused companies to convert part of their dollar revenues to meet local liabilities.

VTB Capital said in a note that its model suggests the rouble will average 57.00-57.40 to the dollar in March if oil prices stay at $65 per barrel and global risk sentiment remains unchanged.

Russian metal companies underperformed, tracking their global peers, which came under pressure from concerns about U.S. plans to impose hefty tariffs on imported steel.

Shares in Russian steel producer NLMK (>> Novolipetsk Steel PAO) shed 2.3 percent, while shares in coal and steel producer Mechel slid 3.2 percent.

The rouble-denominated MOEX benchmark index <.MCX> was down 0.8 percent at 2,279.93, heading away from an all-time high of 2,376.96 it hit on Monday.

(Reporting by Andrey Ostroukh)

Stocks treated in this article : Mechel PAO, Novolipetsk Steel PAO