OREANDA-NEWS. On 16 July 2009 Veles Capital released daily review - July 16:

Gazprom begins Road show of its Eurobonds for 1.5 bn USD and 350 mn Euro next week. Gazprom ordered BNP Paribas Generale to conduct meetings with the investors to Eurobonds of the gas concern in continental Europe and UK, JP Morgan and Morgan Stanley – in U.S., announced Interfax agency. Road show begins July 20.

MED announced communication tariffs changes. Tariffs for providing local telephone communication including fee for using the subscriber’s line in 2010 will be upped by 11%, in 2011 – by 8.6%, in 2012 – by 7%.

In 1H 2009 Mechel reduced coal mining by 2.2 times, steel output – by 18%. Rolled metal output reduced by 16% to 2.4 mn tons. Mining of coking coal dropped 3.7 times to 2.28 mn tons, energy coal – by 26% to 4.1 mn tons. Output of coal concentrate fell by 2.5 times to 3.1 mn tons. Output of iron-ore concentrate reduced by 21% to 1.95 mn tons.

In 2Q 2009 Evraz reduced steel output by 28% to 3.4 mn tons. Rolled metal output dropped 24% to 3.27 mn tons versus the similar period of the previous year. Cast iron output reduced by 31% to 2.5 mn tons. Mining of coking coal in 2Q grew by 16% versus the similar period of the previous year and totaled 2.7 mn tons, concentrate output lost 9% to 1.7 mn tons, mining of energy coal upped by 30% to 881 thousand tons.