Cons umption forecast

摘要

In Q1-Q3, capacity of flat product market in Russia went up by 8% y-o-y to 17.16 milliont. Construction upturn resulted in a 10% growth of small- and medium-sized weldedpipe deliveries and an 8% growth of shipments to traders. Machine-builders raisedpurchases of flats by 13% to 2.14 million t. Imports surged by 52% to 3.14 million t, dueto limited domestic supply and stabilization of rouble exchange rate. Domestic deliveriesinched up y-o-y to 14 million t. Consumption of HR sheet surged by 20%. The reasonwas higher volumes consumed by producers of small- and medium-diameter weldedpipes (up 10%), construction companies and traders (up 36%). Capacity of HDG marketinched down 4%, while consumption of PPG I went up 5%.