In Q3 2018, steel output grew by 1% qoq to 4.4 m t (flat yoy); capacity utilization rate remained high at 99%. Group sales in Q3 2018 grew by 1% qoq to 4.4 m t (+4% yoy).

Q3 2018 highlights:

• Steel output grew by 1% qoq (flat yoy) to 4.4 m t.

• Sales totalled 4.4 m t (+1% qoq). This growth was supported by the increase in long steel sales as previously accumulated stocks were being sold off. The share of finished products in Group sales grew by 4 p.p. qoq to 66%. Sales grew by 4% yoy, driven mainly by the growth of semi-finished product and long steel sales.

• Group sales in home markets accounted for 63% (+1 p.p. qoq; -4 p.p. yoy) in total sales.

9M 2018 highlights:

• Steel output grew by 3% yoy to 13.1 m t, driven by the growth in output at the Group’s Russian and American sites as a result of the uptick in demand.

• Group sales totalled 13.0 m t, up 7% yoy, due to the growth of semi-finished product and long steel sales to third parties.

• Group sales in home markets accounted for 63% (-2 p.p. yoy) in total sales.