Outlook

The forecast relates to Q2 2018 Consolidated Financial Results under IFRS.

Q3 2018 outlook:

Markets

  • Global steel prices would be subject to volatility on uncertainty from rising protectionism worldwide beyond the steel industry
  • China: “blue sky protection plan” constrains output and exports – will provide additional support for global pricing
  • Russia: seasonally better demand will offer support to domestic prices
  • Europe: demand growth to level off due to seasonal factors but domestic prices could increase due to import restrictions
  • USA: demand to remain firm due to the US economy’s strength

Q3 results outlook

  • The Group’s capacity utilization to remain high, crude steel production to increase
  • Seasonally stronger performance of the Russian divisions will support financial results