Metinvest attributable steel output rises 16% m/m in August
Attributable steel production at Ukraine’s largest producer Metinvest (METINV)
was 26.5 kt per day (or 821 kt total) in August, a 15.9% increase m/m, according to
Concorde Capital’s analysis of separate news reports by Interfax-Ukraine. That result
includes Azovstal (AZST UK), Ilyich Steel (MMKI UK) and a 49.9% portion of Zaporizhstal’s
(ZPST UK) result. Production at Yenakiyeve Steel was halted on Feb. 20.
The two Mariupol-based mills boosted output by 5.8% m/m to 645 kt in August. This
includes Ilyich Steel (flat output m/m) and Azovstal (38.5% increase m/m to 374 kt per
month). Zaporizhstal produced 353 kt of steel per month, which is a 5.8% increase
8M17, Metinvest’s attributable steel output was 6.47 mmt, or 6.9% less yoy. Excluding
Yenakiyeve Steel, which Metinvest does not control any more, the holding’s output
increased 8.8% yoy to 6.13 mmt in 8M17.
Andriy Perederey: The August
output results support ourexpectations about
improvementsin its financial
indicators in August. Also, we expect that the holding will be able to reach our 2017
steel output forecast (9.6 mmt, or 7% less yoy).
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