The forecast relates to Q4 2018 Consolidated Financial Results under IFRS.

Q1 2019 outlook:


  • Global steel prices rebounded marginally in mid-quarter 1Q19; further dynamics to be subject to raw materials prices and macro
  • China: effect from winter cuts could be below forecasts; steel prices to remain sensitive to the US-China trade talks
  • Russia: seasonal demand recovery is expected in March; domestic prices to closely track export prices movements
  • Europe: demand could stay flat driven by economic uncertainties; import restrictions to provide support to local prices
  • USA: demand to remain firm due to the US economy’s strength; news on supply restarts to determine price movements

Q1 2019 results outlook

  • Steel output will reduce to the level of Q1 2018, impacted by the seasonal fall in demand for long steel and scheduled repairs at the Lipetsk site.
  • The Group's shipments are expected to be higher yoy with larger share of finished steel sales