Metinvest plant to boost steel output 45% m/m in April

Azovstal, one of two steel making plants of Ukraine’s
largest producer Metinvest (METINV), will boost its steel output to 13.1 kt per
day (394 kt per month) in April, a 45% m/m jump, according to Concorde
Capital’s analysis of a news report by Metal Expert, an industry consultancy.

The output jump will be due to the completion of a
major 20-day overhaul of one of Azovstal’s two oxygen converters, Metal Expert
said.

Dmytro Khoroshun: Metinvest’s daily steel output might jump 14-19% m/m in April to 24-25
kt because of the completion of Azovstal’s repairs, we expect.

We maintain our neutral view on METINV bonds.