Evraz Plc, the Russian steelmaker that joins the U.K.’s benchmark FTSE 100 index on Dec. 19, is curbing sales this month in anticipation of improved prices next year, Chief Executive Officer Alexander Frolov said.
The grain crop in Russia, projected to be among this season’s five biggest wheat exporters, is set to fall below a government goal after drought hurt plants in some regions, according to the state weather agency.
Evraz Group SA , the Russian steel producer part-owned by billionaire Roman Abramovich , is seeking iron ore and steel assets in South Africa, and projects in East Siberia, Chief Executive Officer Alexander Frolov said.
Russia, the world’s third-biggest wheat exporter last year, is forecast to get frosts and drought, which pose a risk for new season crops, the Federal Hydrometeorology and Environmental Monitoring Service said.
Russian winter grains may be in better condition than estimated last month by the government because of warm weather in southern areas, putting the nation on track to boost cereal exports in the coming season.