According to Mr Bohdan Danylyshyn Ukrainian economy minister, the Ukrainian steel industry has emerged from its recession period and entered its recovery phase, as confirmed by the rise in steel product output compared to the same period last year.

Accordingly, during the four months from October 2009 to January 2010 inclusive, Ukraine registered increases in its steel output compared to the same month in the previous year. Ukrainian steel product output in October 2009 rose by 16.2%YoY, in November 2009 it increased by 47.6%, in December 2009 by 27.3% and in January 2010 by 26.6%.

The steel output increase in January 2010 was achieved mainly due to the increase in pig iron production, in crude steel production up by 23%, in continuous-cast semi finished product output up by 29.1%and in rolled steel product output up by 24.2%.

Mr Danylyshyn said "The monthly positive result was achieved due to the stimulating influence of growth in external demand and prices for steel products in the world market and due to increased activity of metal traders who replenished their stocks."

(Sourced from SteelOrbis)