Kryvorizhstal (KRST: BUY) Slows Production
16 June 2008
The company stopped three of its six blast furnaces for an overhaul due to the recent slump in steel prices.Concorde Capital:The blast furnace overhaul is short-term and will be completed within a week, after which they may be re-started at any time. Currently, KRST is storing all the steel it produces until market conditions improve. Breaking News: Mittall Steel plans to participate in the KRST tender. Apparently, the company, together with US Steel, plans to offer USD 1.5 bln for the plant.
