Metinvest Cuts Iron, Slab Production on Unfavorable Prices

Metinvest, Ukraine’s biggest steelmaker, said it will cut output of iron and merchant slab at its Azovstal (AZST) plant in December due to low demand and unfavorable prices.

Iron production will be 13.7 percent lower next month than initially planned and merchant slab production will be 29 percent lower than planned for December, the company’s press service said today in an e-mailed statement.

Metinvest will also cut its production plans for the first quarter of next year, according to the statement.

To contact the reporter on this story: Kateryna Choursina in Kiev at kchoursina@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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