It is reported that the Ukrainian steel-making industry will produce 30.7 MT of finished steel products, up by 9% YoY, and 34.7 million tons of steel, up by 6% YoY in 2011. These projected figures are 2% lower in comparison to the forecast issued by the ministry in May.
According to Phoenix capital, “The event is neutral for the steel sector. The government’s downgraded forecast of steel production doesn’t indicate a considerable change in the performance expected in 2011 and can be revised upwards by the ministry again, closer to the end of the year. In general, the Ukrainian steel sector is gradually rebounding from its production dip in 2009 on the back of reviving demand which is still considerably weak in comparison to 42.8 million tons produced in 2007”. (Phoenix Capital)