According to management of the Alchevsk Steelworks the company resumed production at 50% of the average monthly output in 1H 2008 in November 2008 from 25% in October 2008.

Mr Viktoriya Bezverkha analyst said that “We see the new to be POSITIVE for ALMK, as the amount produced exceeds that promised to the government in the Memorandum signed in November 2008. We expect that with the output preserved in December, ALMK will finish 2008 with around 1% YoY growth.”

(Sourced from Millennium Capital)