Sandvik’s order intake rate gradually declined in April-May to a level, which in terms of volume was 40-50% lower than the year-earlier period. Generally low demand from end customers, combined with continued inventory reductions among most customer segments, leads to invoicing in terms of volume having declined to a level 30-40% lower than the year-earlier period. In order to avoid increased obsolescence this generates a need for Sandvik to further reduce inventories. Accordingly, the production rate has fallen below the rate of order intake by about 10% during the second quarter….more at Sandvik.com