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Daily Insight-NBU FX market news; steelmakers plan a 3% output cut for June

According to the Association of Steelmakers of Ukraine, Metallurgprom, Ukrainian steelmakers plan to decrease their crude steel output by 2.8% MoM to 3.05mt in June 2011, as reported by Interfax Ukraine. As a Metallurgprom representative stated, the plan for June also provides for a 5.3% MoM drop in total iron output to 2.5mt, and a 4.9% MoM drop in total rolled steel output to 2.73mt. At the same time, the average daily production of crude steel in Ukraine in the first 10 days of May was 99,000 tonnes, or 1.3% lower than the average daily crude steel output in April.

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