Ukraine ups daily steel production 2% mom in September
2 October 2012
Ukraine’s average steel production rose 2% mom in to 86 kt/day in September, coming in at 2.58 mmt for the month, or 2% lower than industry association Metallurgprom had forecasted (2.64 mmt). Steel output in 9M12 fell 6% yoy to 24.6 mmt. Two weeks ago, the head of Metallurgprom forecasted steel production in October at 2.59 mmt (flat mom).
Roman Topolyuk: The sector’s lower than expected operating performance in September is of little surprise as long as demand remains meager and global competition grows, preventing Ukrainian steelmakers from substantially increasing production. This depressed market is likely to persist into November, with a slight rebound on a probable restocking in December.
