MMKI More Than Triples Coke Orders From Russia's Altai Coke

Mariupol Illicha Steel (MMKI: BUY) signed a contract last week with Russia’s Altai Coke for the delivery of 50 ths mt of coke per month in 2007.  MMKI ordered a total of 172 ths mt from Altai Coke in 2006. Altai Coke is part of the Novolipetsk Steel Mill. Altai Coke is scheduled to start deliveries from the first of February. Andriy Gostik: This contract with Altai Coke decreases MMKI’s dependency on coke supplies from coke makers controlled by competing Ukrainian business groups. We estimate that in 2007 two coke producers, Yasynivsky Coke whose capacities MMKI is leasing, and Altai Coke, will account for 70-75% of MMKI’s coke needs.