Outlook

The forecast relates to Q2 2017 Consolidated Financial Results under IFRS.

Q3 2017 outlook:

Operational results

  • Group’s capacity utilization to remain high
  • Sales volumes to be supported by better demand in our home markets

Markets

  • Pricing environment globally to be somewhat weaker due to supply response and softer commodity prices
  • Russia: demand weaker than normal due to high stocks, normalization is expected later in the year
  • Europe: continued demand recovery on the back of supportive regional fundamentals
  • USA: demand recovery, supply discipline and ongoing trade actions translating into price premiums