Chapter 4 CIS

摘要

Russian construction and manufacturing activity waned towards the end of the year. Fixed in investment posted negative growth in September for the first time since April 2011, declining by 1.3% y/y. Machinery and equipment production fell by 11% y/y in the same month. We have not seen any major improvement in end-user industries performance nor in plate consumption numbers so far this year. For instance, linepipe production in Russia has fallen in 2012, resulting in a decline of approximately 13% y/y in reversing mill plate demand.