Metinvest’s Yenakievo Iron and Steel Works faces steel production problems

Yenakievo Iron and Steel Works, a subsidiary of the Ukrainian mining and steel producing group Metinvest, is reportedly experiencing problems with steel production after a breakdown occurred at the beginning of the week in its converter workshop and forced the company to halt certain steel smelting operations and to reduce to a minimum the operations of its blast furnaces.
 
Neither the extent of the problem nor the potential impact on production volumes have been disclosed, but the company expects to restart operations at the plant in the "near-term", potentially within three to four days, according to the Ukrainian association of metal producers Metallurgprom.
 
"The week-long breakdown in production is expected to reduce the plant's February steel output by at least 25 percent. The scope of the breakdown can be more serious, as the issue has not been publicly commented on, and it may take longer for the company to resume normal operations," Millennium Capital analysts said.