Metinvest steel output slid 1% m/m in February
12 March 2021
Steel production at
Ukraine’s largest producer Metinvest (METINV) was 24.8 kt per day (or 695 kt
per month) in February, a 1.4% m/m decrease, according to Concorde Capital’s
analysis of separate news reports by Interfax-Ukraine.
Ilyich Steel
reported a 4.6% m/m gain in steel production to 12.1 kt per day, while
Azovstal’s output dropped 6.4% m/m to 12.7 kt per day in February. The
holding’s hot iron output increased 10.1% m/m to 25.7 kt per day.
In 2M21, Metinvest’s
steel output was 1.48 mmt (25.0 kt per day), or 1.7% more yoy.
Dmytro Khoroshun: Metinvest will continue producing
steel at daily rates of at least 23-24 kt in March-April in order to make the
most of the high prices period at the global markets, we expect.
We maintain our neutral view on METINV bonds.
