It is reported that in January Ukrainian steelmakers have decreased crude steel output by 1% MoM. Alchevsk Iron and Steel Works 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 a Millennium Capital analyst, “The news is neutral for the steel producers. The Ukrainian steel industry has had little change in output compared to the previous month, apart from Alchevsk Iron and Steel Works. We have anticipated the latter’s output to grow, as the parent company has attracted $500 million loans in December 2010, managing to stabilize raw material supplies, the cause of the company’s underperformance in 2010.” (Millenium Capital)