Daily monitor

President Viktor Yuschenko has cancelled the Cabinet of Ministers Resolution #955 from November 17 titled “About measures for stabilizing the prices of pharmaceuticals”.

According to an official press release issued by Ukrros, the government-owned UkrExIm bank opened a line of credit for UAH 65 mln at 22.75% annual interest rate for the Orzhytskiy Sugar Refinery that was recently acquired by Ukrros. The loan agreement was signed November 21, 2008 and is due to be repaid on August 31, 2009. The received funds will be directed towards the further development of the company.

The National Bank of Ukraine (NBU) has reported that the population increased its net purchases of currency in November by USD 1.4 bln, compared to October.

The National Bank of Ukraine (NBU) has reported that the foreign reserves increased 2.6% or by USD 819 mln in November 2008, therefore reaching USD 32 743 mln.

In November, Yasynivka Coke [YASK UZ, U/R] produced 81 thsd mt of 6%-humidity gross coke, 10% less than in October and 37% lower than the average monthly 11M08 level of 129 thsd mt, according to Interfax-Ukraine. The total 11M08 production volume of 1.42 mln mt is down 10% YoY.

The Interpipe Novomoskovsk Pipe-Production Plant [NVTR UZ, U/R] produced 5.5 thsd mt of pipes in November, down 70% MoM, according to Interfax-Ukraine. The November volume is 78% lower than the monthly average for 11M08, 25.1 thsd mt. The total 11M08 output, 276 thsd mt, is nevertheless still 7% up YoY.

The Interpipe Niznedneprovsky Tube Rolling Plant [NITR UZ, U/R] produced 20.5 thsd mt of pipes in November, which is down 43% MoM, according to Interfax-Ukraine. The November volume is 56% lower than the monthly average for 11M08 of 46.7 thsd mt. The total 11M08 output, 514 thsd mt, is down 6% YoY.

According to Interfax-Ukraine, Dniprovsky Iron & Steel Works named after Dzerzhinsky, or simply Dzerzhynka [DMKD UZ, U/R], produced 209 thsd mt of steel in November, up 47% MoM but still 24% below the 11M08 monthly average of 272 thsd mt. The 11M08 total of 2.99 mln mt is down 13% YoY.

The correct output volume for all Ukrainian coke makers for November is 980 thsd mt.

In November, Bagliy Coke [BKOK UZ, U/R] decreased output of 6%-humidity gross coke by 18% MoM to 27 thsd mt, according to Interfax-Ukraine.