Металлургия

According to various press reports, the Midland Group, which controls about 48% of Zaporizhstal [ZPST UZ, U/R], intends to split.

At a December 17 EGM, shareholders of Zaporizhstal [ZPST UZ, U/R] voted to recall their July 30 dividends decision for 2007. The 100%, UAH 0.21 (USD 0.025 at USD/UAH 8.2) per share dividends will not be paid. Instead, most of the 2007 profits (UAH 487.1 mln, USD 59.4 mln) will be directed towards modernization. A small portion (UAH 40.6 mln, USD 5.0 mln) will be directed towards equity investments.

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.

In November, Avdiivka Coke [AVDK UZ, U/R] decreased output of 6%-humidity gross coke by 25% MoM to 171 thsd mt, according to Interfax-Ukraine. In comparison with the average 11M08 output at 341 thsd mt, the November volume was down 50%. The total 11M08 production volume of 3.75 mln mt is up 16% YoY.

In November, Alchevsk ISW [ALMK UZ, U/R] smelted 189 thsd mt of crude steel, according to Interfax-Ukraine. November’s volume is 34% up MoM, but still 50% below the 11M08 average of 376 thsd mt. The total 11M08 crude steel production volume of 4.135 mln mt is 15% up YoY.