Металлургия

Ukrainian News reported that Zaporizhstal [ZPST UZ, U/R] is proceeding with its large-scale CapEx program. It was revealed that the construction of sinter and oxygen converter shops has a budget of USD 1.3 bln (earlier estimates were USD 1.7-2.0 bln). The company had already paid EUR 40 mln (supposedly, to Siemens-VAI) for the preparation of the project’s technical documentation.

According to Metal Courier, a CIS metallurgy and mining research group, prices for K coal concentrate in Ukraine decreased further in May to USD 63 per mt from USD 65 per mt in April. Zh coal concentrate dropped to USD 61 per mt in May from USD 67 per mt in April. The price for imported Russian coal concentrate decreased from USD 66 (April) to USD 62 (May) per mt.

Dnipropetrovsk Iron & Steel Works named after Petrovsky [DMZP UZ, U/R], or simply Petrovka, reported its FY08 financial results.

The April 24 AGM at Mariupol Illich Iron & Steel Works [MMKI UZ, U/R] went mostly as planned. In particular, the entire FY08 net income, USD 258 mln, will be reinvested.

The April 27 AGM of Donetsk Metal Rolling [DMPZ UZ, SELL] confirmed our view that the situation there is very difficult.

Khartsyzk Pipes & Tubes [HRTR UZ, N/R] will supply the total of 480 thsd mt of large-diameter pipes for Central Asia – China (CAC) natural gas pipeline.

Metal Bulletin reports that the Metinvest Group plans to launch a brand new Mill 390 at Makiivka ISW. According to Andrey Parkhomchuk, the sales director of Metinvest’s steel and rolled products division, after the launch of the 500-600 tpa (42-50 mt per month) mill, the Metinvest Group as a whole will decrease its sales of semi-finished products to only 50 mt per month.

The Enakievo ISW group, which includes OJSC Enakievo Iron & Steel Works [ENMZ UZ, U/R], is making progress with the construction of Blast Furnace No. 3, according to a Metinvest Holding press release.

According to Metal-Courier, on April 14, Zaporozhkoks [ZACO UZ, N/R] shut down coke battery No. 1. The design capacity of CB No. 1 was 910 thsd tpa, actual productive capacity was 545 thsd tpa. Zaporozhkoks plans to eventually erect a brand new CB No. 1-bis with 860 thsd tpa capacity.

On April 13, Nikopol Ferroalloys [NFER UZ, SELL] released its 2008 annual report.