Metals and Mining

According to information published in the agenda for the Yasynivka Coke [YASK UK] AGM, the Company’s 2009 net income is USD 10.3 mln (UAH 82.6 mln), which is down 68.4% YoY.

In 2M2010, iron ore exports from Ukraine increased by 73% YoY to reach 5 mln tonnes.

The Brazilian iron ore giant Vale may increase its domestic price for iron ore by 80%. This increase may consist of two stages: a 40% hike in March and another 40% in April to soften the impace of the input price for Brazilian steelmakers.

In 2M2010, Pivnichnyi GOK managed to boost its pellets output by 33% YoY to reach 1,7 mln tonnes, while its output of sinter feed grew by 20.4% to 2.3 mln tonnes.

According to Metal-Courier, at the beginning of March, Ukraine’s largest coke producer Metinvest increased its coke price by 10% to UAH 2280 (USD 285) per tonne, excluding VAT.

According to Metal-courier, Ukraine’s price for coke in March should rise another 10% MoM. The main reason for this is the raw materials deficiency, due to scheduled repairs for 40-50% of the production capacities some of the country’s key coal making companies; namely, the Chervonolymanska Mine and Zasadko Mine.

According to Ukrainian News, in January 2009, ferroalloys exports from Ukraine increased by 10.3% to 97.4 thsd tonnes.

According to the Managing Director of Arcelor Mittal Kryvyi Rih, Jean Rue, the Company plans to invest up to USD 200 mln in the modernization of production capacities and the fulfillment of its investment obligations.