Coke Production up 5.5% in 2007

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Company, ths mt                                 2007     2006  Chg,yoy
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Avdiyivka Coke (AVDK:BUY)                3606.0   3209.0    12.3%
Alchevsk Coke (ALKZ:HOLD)               3224.0   2739.0    17.7%
Arcelor Mittal Kryviy Rih (KSTL:SELL)   3009.0   2696.0    11.6%
Azovstal (AZST:BUY)                           2476.0   2533.0    -2.3%
Zaporizhcoke (ZACO:SELL)                 1794.0   1936.0    -7.3%
Yasynivsky Coke (YASK:BUY)               1719.0   1525.0    12.7%
Bagliy Coke (BKOK:N/R)                      691.0    772.0   -10.5%
Donetsk Coke (DKOK:N/R)                   680.0    630.0     7.9%
Other                                                4315.0   4462.0    -3.3%
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Total                                                20143.0  19100.0     5.5%
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Andriy Gerus: We see upside in Avdiyivka Coke (AVDK: BUY) and Yasynivsky Coke (YASK: BUY) on strong demand from domestic steel mills (Metinvest and MMK Illicha), supported by secured coal supply from related mines. Alchevsk Coke (ALKZ: HOLD) has limited potential for further output growth in 2008 and we believe is fairly priced. Zaporizhcoke (ZACO: SELL) suffers from the rivalry of its key shareholders and is poised to continue output decreasing in 2008.