OREANDA-NEWS. On 20 August 2009 was announced, that in 7M09 the industrial output decreased by 30.4%, y/y, despite the growth of 4.9%, m/m in July 2009. The main factors of the monthly industrial output growth were metallurgy, which rose by 15.3%, m/m and mining 6.5%, m/m in July. Utilities distribution grew by 11.6%, m/m. Food industry decreased by 3.3%, m/m in July 2009.

Millennium Capital considers the main reasons for metallurgy growth to be the increased demand from Chinese producers, which negotiated contracts with Ukrainian exporters in late spring 2009. Still Millennium Capital does not expect such tendency to continue, since internal demand in China remains small (on average by 200mnt lower than metal supply). Moreover, recent recommendation of Chinese government to stop the construction of new metallurgy plants till 2013 will also decrease the demand of China for imported metals.

Millennium Capital is an integrated financial services provider. Established in 2000 by a group of professionals with solid background in securities and corporate finance, Millennium Capital is now one of the major investment banking institutions.