Metinvest starting up blast furnace at Azovstal
Azovstal, a subsidiary of Ukraine’s largest steel producer Metinvest (METINV), is starting up blast furnace (BF) No. 3, according to an August 13 report by news.bigmir.net, a news site, which cited Metinvest’s press service.
Dmytro Khoroshun: The launch of BF No. 3, which is likely in the coming weeks, will boost Azovstal’s hot iron capacity by 1.3-1.6 mmt p.a. to 3.7-4.0 mmt p.a., which translates to 11.5-13 kt of steel per day. However, Azovstal will likely keep its steel production at lower levels, around the 9.7 kt per day achieved in July, because the plant currently operates only one of its two oxygen converters.
We maintain our bullish view on METINV bonds.