ArcelorMittal's (MT) Ukrainian steel plant Kryviy Rih said third quarter demand outlook for its products will be slightly weaker when compared with the second quarter, while raw materials costs will remain on par.

The "outlook for [the] third quarter is soft due to market demand, while raw material costs will stay at second quarter level," said V. Vaideeswaran, chief financial officer of ArcelorMittal Kryviy Rih, in a statement issued Friday.

Output is already beginning to fall. The plant produced 419,400 metric tons of pig iron in July, down 8.5% compared with the same month in the previous year. Steel output was 6% lower at 492,400 tons.

Nevertheless, output is up for the first seven months of the year compared with the same period a year before. Pig iron production is 24% higher at 3.08 million tons in the first seven months of the year compared with the same period in the previous year.

Steel output is also up nearly 27% at 3.56 million tons during the same period.

"For second quarter results, we achieved good commercial performance due to increased sales prices and volume, although increased variable and fixed costs remain as a downside factor," Vaideeswaran said.

                          ArcelorMittal Kryviy Rih  Output 
                                (1,000 metric tons) 
                       July                         7 months 
                  2010      2009  % Change       2010     2009   % Change 
Pig Iron          419.4     458.5    -8.5%      3,083.2   2,485.5   24.0% 
Steel             492.4     523.6    -6.0%      3,556.5   2,810.0   26.6% 
Rolled Products   416.1     443.2    -6.1%      3,054.0   2,570.1   18.8%

-By Alex MacDonald, Dow Jones Newswires; +44 (0)20 7842 9328; alex.macdonald@dowjones.com
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