Swedish steelmaker Ovako predicts that it will achieve a higher volume of sales in the first quarter of 2018, driven by strong industrial activity among its customers, the company said on Friday February 9.
Eurozone manufacturing output has been at multi-year highs during recent months, and Sweden has seen strong markets for cars, trucks and industrial equipment, Ovako said.The company's sales volumes reached 783,000 tonnes of steel in the full year of 2017, up by 10.59% year-on-year compared with 708,000 tonnes in 2016.Ovako produces steel bar, tube, pre-components, and rolled and forged rings, using steel made with electric-arc furnace (EAF) technology.As a result of the improved end-user markets, Ovako's crude steel output also showed an increase last...