Ukrainian steel production rises 16% mom in July

Daily Kommersant, citing trade publication Metal Courier, said that in July Ukrainian steel producers turned out 2.71 mln mt of steel, a rise of 16% mom. It marks the fourth straight month of increased production from the industry. Sources interviewed by Kommersant said that steel manufacturers were running at 65.5% of capacity in July vs. 50% at the beginning of the year. Steel output over 7M09 is down 34% yoy. Andriy Gerus: We forecast August’s production figures will be at or exceed July’s level, as the companies have already concluded orders for next month. Industry players themselves are cautious on longer-term forecasts as they attribute the increase in production to their clients restocking depleted inventories.