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ARCELORMITTAL UKRAINE JUNE STEEL OUTPUT UP, ORDERS STAGNATE
By Devon Maylie, Dow Jones Newswires, London, UK, Jul 06, 2010
ARCELORMITTAL UKRAINE JUNE STEEL OUTPUT UP, ORDERS STAGNATE
By Devon Maylie, Dow Jones Newswires, London, UK, Jul 06, 2010
LONDON - The Ukrainian arm of ArcelorMittal, the world's largest steelmaker, said late Monday that while orders for its products aren't increasing and market conditions remain "difficult" steel output in June is still up from the same period last year.
"Market conditions continue to be difficult, [the] number of orders is not increasing," said V. Vaideeswaran, acting chief executive of ArcelorMittal Kryviy Rih. Three out of five of its blast furnaces are running. Vaideeswaran also said that the non-refund of VAT continues to hamper the company's competitiveness.
"We hope that [an] improved relationship with Russia will also open [the] steel market for Ukrainian exports and that technical barriers in [the] form of quotas will be lifted," Vaideeswaran said.
Steel production in June totaled 487,700 metric tons, up from 399,400 tons in June last year but down from 541,900 tons produced in May. Pig iron output totaled 419,800 tons in June, up 22% on the year but down 9% on the month. June rolled products output totaled 410,100 tons, up 16.5% on the year.
In the first six months of 2010, pig iron output totaled 2.664 million tons, up 31% on the year. Steel output totaled 3.066 million tons, a rise of 34% on the year. Rolled products totaled 2.633 million tons, up 24% on the year.
NOTE: ArcelorMittal is a member of the U.S.-Ukraine Business Council (USUBC), Washington, D.C., www.usubc.org.
