Metals and Mining

Ukrainian pipes and tubes production for January, 84 thsd mt, is down 30% MoM. Earlier, we reported a 62% MoM drop, which was wrong due to an incorrect December production value used in the comparison.

Ukrainian News, a news agency, reported on data provided in a Dniprospetsstal [DNSS UZ, U/R] AGM invitation. The FY08 net loss amounts to UAH 204 mln, or USD 38.7 mln (at FY08 USD/UAH average of 5.27).

Interfax-Ukraine reported on pipes and tubes production for January, which amounted to 84 thsd mt. This is down 62% MoM, and 59% below the average 2008 monthly output of 205 thsd mt, and 62% below the average 2007 monthly reading of 220 thsd mt.

Interfax-Ukraine reported on steel production numbers for January. According to our calculations, the total crude steel output of Ukrainian steelmakers amounted to 2.12 mln mt last month.

Interfax-Ukraine reported on coke production for January, which amounted to 1.28 mln mt. This is up 13% MoM, but still 21% below the average 2008 monthly output of 1.62 mln mt, and 24% below the average 2007 monthly reading of 1.68 mln mt.

At a December 30 EGM, shareholders of Poltava GOK [PGOK UZ, U/R], also called Ferrexpo Poltava Mining, voted two representatives of DCM DECOmetal International Trading GmbH, off of its Supervisory Board. According to a company press release, the decision is related to the fact that on December 22, 2008, Poltava GOK bought back all shares that were owned by DCM DECOmetal International Trading GmbH.

According to Metal Courier estimates, the Enakievo ISW group, which includes OJSC Enakievo Iron & Steel Works [ENMZ UZ, U/R], smelted 199 thsd mt of steel in December, which is up 49% MoM. This month’s output is only 14% below the 11M08 average of 230 thsd mt.

Zaporizhstal [ZPST UZ, U/R] increased crude steel output to 283 thsd mt in December, according to Metal Courier estimates, which is up 20% MoM and only 15% below the average 11M08 level of 333 thsd mt per month.

Metal Courier has reported preliminary estimates of steel production numbers for December. The total crude steel output of Ukrainian steelmakers amounted to 1.99 mln mt this month, which is 25% above the November reading of 1.60 mln mt, but still 38% below the average 11M08 monthly level of 3.19 mln mt.

Mariupol Illich Iron & Steel Works [MMKI UZ, U/R] increased crude steel output to 295 thsd mt in December, according to Metal Courier estimates, which is up 44% MoM but still 39% below the average 11M08 level of 483 thsd mt per month.