It is reported that Alchevsk Iron and Steel Works is planning to increase February crude steel output by 14-18% to reach 320,000-330,000 tons.
The corresponding increase in rolled products’ output is to underlie 230,000 slab exports in February.
To meet the growing production targets for pig iron, in January the company has re-launched its blast furnace No 3 which had been idle due to raw materials shortages.
According to a Millennium Capital analyst, “The news is positive for Alchevsk Iron and Steel Works, as it implements successfully its plans to increase output. As we expected, this speedy production recovery allows ALMK to capitalize on surging global prices for steel. Importantly, the company has successfully increased iron ore purchases from Metinvest, in order to secure the production hike.” (Millennium Capital)