Wednesday, 09 Feb 2011
It is reported that in January 2011, Ukrainian steelmakers have decreased crude steel output by 1% MoM. Alchevsk Steelworks has boosted the production of crude steel and rolled products by 12% and 15% respectively, while the other producers have shown few changes.
According to Millennium Capital analyst “The news is NEUTRAL for the steel producers. The Ukrainian steel industry has had little change in output comparing to the previous month, apart from Alchevsk Steelworks. We have anticipated the latter’s output to grow, as the parent company has attracted USD 500 million loans in December, managing to stabilize raw material supplies, the cause of the company’s underperformance in 2010.”
Tags: Ukrainian steelmakers, decreased, crude steel output, Millennium Capital, raw materials
(sourced:Millennium Capital)
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