Khartsyzsk Pipe Works decreased production by 32% MoM

Khartsyzsk Pipe Works decreased its large diameter pipe output by 32% MoM in May to 37 kilo tons. However, during 5 months the plant demonstrated a 159% YoY improvement in operating results due to the low comparison base having manufactured 247 kilo tons of pipes.
Phoenix Capital analyst said “May marks the first month this year in which Khartsyzsk Pipe Works retreated from its normal capacity load. This decline can be explained by technical reasons, such as contracted production deferred to later periods. At the same time we can’t exclude the temporary exhaustion of orders most of which come from the Russian company Transneft.” (Phoenix Capital)