Metinvest to shut down converter at Azovstal in June-July

2018/6/14 11:37:18

Analyst: We are keeping our forecast of Metinvest's 2018 steel output at about 7.3-7.5 mmt, or 3-5% less yoy.


 

 

 

 

 

 

 

KYIV, June 14, 2018 - Ukraine’s largest steel producer Metinvest (METINV) plans to shut down for 27 days of repairs oxygen converter No. 2 at its Mariupol-based plant Azovstal on June 26, Concorde Capital reported, bases on a June 4 Mariupolskoye TV interview by Azovstal’s CEO Enver Tskitishvili.

 

Recall, Azovstal shut down converter No. 2 for planned repairs as recently as in February. The repairs lasted a few weeks, and Azovstal’s output was back to normal in March.

 

Concorde analyst Dmytro Khoroshun added: "Each of Azovstal’s two converters, which comprise the plant’s entire steelmaking capacity, are able to produce up to 7.3 kt of steel per day and had recently been producing at a rate of about 6.8 kt per day. Because of the converter shutdown planned for June-July, we estimate that Metinvest’s steel output should drop by 4% m/m to 21.5 kt per day in June and further by 19% m/m to 17.4 kt per day in July. The total loss of steel production because of the June-July repairs will amount to 180 kt, approximately.

 

"We are keeping our forecast of Metinvest's 2018 steel output at about 7.3-7.5 mmt, or 3-5% less yoy."

 

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For more information, link here: www.concorde.ua 

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