Kryvorizhstal (KRST: BUY) Fires Up Blast Furnace #9
24 June 2008
The furnace was idled for maintenance, due to a recent steel price slump. Currently, KRST utilizes five of six furnaces, as blast furnace #8 is being reconstructed. Concorde Capital: KRST?s high efficiency enables it to compete effectively on the global market, even when prices fall. However, the company will likely decrease its annual output compared to 2004, as the demand for KRST?s steel is beginning to ease. We project sales in 2004 totaled 1. 9 bln, and 1.7 bln in 2005.
