It is reported that Alchevsk steel plans to increase monthly crude steel production by 18%MoM to 26%MoM in January implying crude steel output of 295,000 tonnes to 315,000 tonnes. The high value added hot rolled plate output is to increase by 38% MoM to 85,000 tonnes in January.

According to Millennium Capital analyst “The news is POSITIVE for ALMK, since we expected the output increase to be a major catalyst for the company’s stock. The news is more meaningful at the end of the month, as the plans of the company were often corrected downward in past months. On the demand side, the export-oriented Alchevsk Steel should have no problems with selling this additional output, as the global demand looks robust at present.”

(Sourced from Millennium Capital)