OREANDA-NEWS. January 13, 2011. In December, steel output in Ukraine grew by a mere 1.7% mom due to the 15.1% production slump in KSTL output. ALMK and Enakievo Steelworks were among growth leaders with output increases of 16.8% and 27.2%, respectively.

Millennium Capital: the news is NEUTRAL for the steel producers. The steelmaking industry has been less than 1% short of 10% growth in 2010. MMKI, AZST and KSTL were the growth leaders in 2010, scoring 31.9% and 22.8%, and 21.7% growth rates yoy. The production level of ALMK and DMKD has slid by 20% in response to financial problems and supply breakups. However, the plants show signs of recovery, as ALMK has managed to significantly increase production in December, apparently securing the raw material supplies from Metinvest. In December, Enakievo Steelworks has grown by 27.2% mom, mostly driven by increased billet exports; however, its 2010 yoy growth stopped at 4.7%.