Daily monitor

On October 21, 5.7 thsd mt of crude oil were sold at Resources Auction 122, which took place on the floor of the Ukrainian Interbank Currency Exchange.

In October, Alchevsk ISW [ALMK UZ, U/R] performed trials on its brand new converter No. 1, but decided to shut it down due to the poor situation on steel markets.

On the tail of a recent downgrade by S&P of 3Ukrainian banks, Tuesday brought upsetting news to the country’s financial sector, as both the Fitch international rating service and Moody’s Investors Service downwardly adjusted their outlook on Ukraine.

Obolon, one of the top three breweries in Ukraine, is going to reconsider its strategic plans for 2009. According to Interfax, the company is going to finish the investments projects it commenced in 2008.

Ukrtelecom [UTEL UZ, U/R] has announced its plans to establish a 3G network covering the entire territory of Ukraine.

The National Communications Regulation Commission (NCRC) will not hold a tender for third-generation (3G) operators to receive licenses any sooner than March 2009.

Ukrnafta [UNAF UZ, Strong BUY] plans to sell 216.5 thsd mt of oil and 12.6 thsd mt of gas condensate at the Ukrainian Energy resources Auction 122 on October 21.

Three steelmakers of the Metinvest Group reportedly decreased output of semi-finished products by about 50%, from 340-370 thsd mt per month to 150-170 thsd mt per month.

Astarta [AST PW, BUY] has capacitated six self–owned sugar plants for the sugar processing campaign this season. Moreover, the company is going to launch sugar production at the Volynskiy plant through a lease agreement.

According to Ukrainian News, the Ministry of Ukraine has endorsed import quotas on raw cane sugar in the amount of 263 thsd mt for 2009 and 267 thsd mt for 2010. The Ministry amended article 1 of the law on tariff import quotas for raw cane sugar.