Ukraine: metal companies losses up in January-October 2015
In January-October Ukrainian metal companies EBIT reached minus 15.9 billion UAH, up by 11.2% YoY, or 1.6 billion UAH.
In January-October Ukrainian metal companies EBIT reached minus 15.9 billion UAH, up by 11.2% YoY, or 1.6 billion UAH.
Chairman of the Metallurgists Federation of Ukraine Sergey Belenky said Ukrzaliznytsia shouldn’t increase the cost of its services under the recessing economy.
Management of the major Ukrainian mining and metal companies has addressed the government asking it to impose a moratorium on the railroad cargo transportation tariffs increase.
The Ministry of infrastructure plans to increase railroad transportation tariffs by 30% in 2016. This will lead to the further recession in Ukrainian economy.
Metinvest-SMC, the Metinvest metal center network, believes rolled metal consumption in 2016 would increase by 2.6% YoY, to 3.35 million tons.
In January-September Ukrainian metal companies decreased their domestic sales by 21.7% YoY, to 1.96 million tons (13.1% of the total output) from 2.5 million tons (13.3%) in January-September 2014.
Russian embargo on Ukrainian products will mostly affect agriculture and metal sector.
In January-October Ukraine decreased its industrial output by 15.4% YoY.