Metinvest iron ore concentrate output falls 1% m/m in January

Attributable production of iron ore concentrate at leading Ukrainian steel producer Metinvest (METINV) decreased 1% m/m in January to 2.49 mmt, according to Concorde Capital’s analysis of separate reports by Interfax-Ukraine.

Andriy Perederey: The company’s operating performance in the mining division is generally stable. On the top of that, iron ore prices reached an average of USD 80/t for the month, or a 1% m/m increase, boosting the company’s mining division and its ability to generate strong EBITDA. So we are keeping our positive view on Metinvest Eurobonds.