Outlook

The forecast relates to Q3 2017 Consolidated Financial Results under IFRS.

Q4 2017 outlook:

Markets

  • Global pricing environment is expected to be seasonally softer, lower Chinese exports will lend price support
  • Russia: seasonal slowdown in demand, domestic prices to be supported by exports prices run-up
  • Europe: better demand partially offset by service centers destocking
  • USA: resilient underlying demand and reduced imports pressure

Q4 and 12M results outlook

  • Group’s capacity utilization to remain high
  • 2017 crude steel production estimated at 17 m t
  • Further improvement in financial performance on widening spreads and Strategy 2017 effects build-up