Finland-based steelmaker Rautaruukki Corporation (Ruukki), a supplier of steel components to construction and engineering industries in the Nordic region and Eastern Europe, expects improvement in its major sales markets, saying that, from the end of the third quarter customer activity began to pick up in nearly all its businesses.
According to Ruukki, infrastructure construction will develop at a good pace in the Nordic region, while the construction of residential and commercial real estate, especially in Finland and the Baltic countries, remains low. The company also noted a growth of investments in commercial and industrial construction in Russia, and expects improved market conditions in Poland and the Czech Republic. In addition, Ruukki said it sees a growing demand also in the engineering industry, especially in the manufacture of mining and forest machinery and materials handling equipment; however, shipbuilding industry market conditions have remained weak.
"In Russia, the order flow in commercial and industrial construction picked up clearly, and signs of an increase in demand also began to be visible in Poland and the Czech Republic. However, overall order intake in commercial and industrial construction still remained low...On the Nordic markets, demand for steel products continued to be good in Sweden, but was still fairly quiet in Finland, even though it picked up towards the end of Q3," reads the company's statement.