Interpipe pipe output flat yoy in 4M21

Pipe production at Ukraine’s largest producer
Interpipe (INTHOL) was 1.87 kt per day (or 56.2 kt per month) in April, a 0.1%
m/m increase, according to Concorde Capital’s analysis of a news report by
Interfax-Ukraine.

Interpipe Niko Tube output rose 6.0% m/m to 1.05 kt
per day in April. Interpipe NTRP pipe production jumped 17.5% m/m to 0.72 kt
per day. Interpipe NMPP output plunged 62.2% m/m to 0.10 kt per day.

In 4M21, Interpipe’s pipe production was 173.8 kt
(1.45 kt per day), or 0.4% more yoy.

In a separate news report, Interfax-Ukraine said that
Interpipe Steel’s output of crude steel was 3.00 kt per day in April, a 17.0%
m/m increase. The 4M21 steel output at Interpipe Steel was 283.0 kt, a 4.0% yoy
gain.

Dmytro Khoroshun: Both steel and pipes production daily rates at Interpipe have
demonstrated m/m increases since January, which is positive, especially
considering Russia’s ban on imports of railway
products from Ukraine starting
from early February.