OREANDA-NEWS. November 18, 2009. In October, consumption of rolled metal increased by 19% m/m and reached 564.67ktonnes. This is the 2009 maximum to date. An increase in purchases was marked in machine building, iron ore and steel industry, railways, pipe makers and metal traders.  However, consumption levels in construction, chemistry and food industry have declined.

Millennium Capital sees this news as POSITIVE, despite the fact that this level of consumption is much lower than a year before. Millennium Capital thinks that it is an increase in the domestic consumption of some products (particularly rolled steel) that proved that the bottom has indeed been already scrapped for our industrial production.