MMK Illicha posts net loss of UAH 700 mln in 1H09

MMK Illicha’s (MMKI) General Director Vladimir Boyko said on Friday that his mill finished 1H09 with a net loss of UAH 700 mln (vs. net income of UAH 1.59 bln in 1H08), Interfax reported. Boyko said that thanks to revived demand, in July the plant was able to post a positive financial result for the month. Andriy Gerus: We expect another favorable month in August for MMK Illicha. We expect stable prices and production figures at or exceeding July’s level, as Ukrainian steelmakers have already concluded orders for next month.