Metinvest steel production to drop 8% m/m in September due to repairs
Metinvest (METINV), Ukraine’s largest steel producer, plans to stop one of two oxygen converters at its Azovstal plant for seven days of repairs, according to a Sept. 14 report by Metal Expert, an industry consultancy.
Steel production at Metinvest’s two Mariupol plants, Azovstal and Ilyich Steel, might drop by about 8% m/m to 22.5 kt per day in September because of the repairs, according to Concorde Capital calculations.
Dmytro Khoroshun: Metinvest will return to producing steel at daily rates of at least 23-24 kt at its two Mariupol plants and of about 7 kt at Dniprovskyy Steel from October, in order to make the most of the period of high prices at the global markets, we expect.
We maintain our neutral view on METINV bonds.