Metinvest stops a converter and a blast furnace for repairs
19 June 2019
Metinvest (METINV), Ukraine’s largest steel producer,
stopped oxygen converter No. 1 at Azovstal on June 11 for repairs that will
last until the month’s end with a possible extension to July, according to a
June 13 report by Metal Expert, an industry consultancy. Recall, Azovstal shut down two blast furnaces
in early June.
Metinvest also shut down blast furnace No. 5 at Ilyich
Steel for repairs that will last 45 days, according to a June 14 report by
mariupolnews.com.ua, a local news site, which did not specify when the repairs
started. Recall, Ilyich Steel shut down oxygen converter No. 3
in late May for repairs.
Dmytro Khoroshun: Due to heavy
repairs at both of its Mariupol plants, Metinvest’s June steel production might
drop to as low as 15-16 kt per day on average, or 30-35% lower m/m.
We maintain our bullish view on METINV bonds.
