Poltava GOK Cuts Production In January.

Ths mt                             Jan-06             Jan-05              Chg, %

Iron Ore Mining               1,878.1             2,094.6             -10.3%

Co ncentrate production    687.8                725.3               -5.2%

Pelets production              568.2                677.7              -16.2%

Pellets sales                     564.5                680.3               -17.0%

Concorde Capital: We ascribe this drop in production to a decrease in demand for pellets from Russia, as Russia’s MMK halted purchases of Poltava GOK’s (PGOK: BUY) pellets in January after Russia lifted preferential railway tariffs for Ukrainian pellets.