The CIS steel industry should to stabilize in 2010 due to a forecast slow recovery in steel volumes and stabilization of prices, Fitch Ratings said in a new report. The Outlook for Russian steel producers remains challenging due to substantial leverage, low profitability of overseas operations and liquidity constraints for some issuers. In Ukraine, the recovery of steel industry players is likely to take longer than in Russia, given significant foreign-currency debt, constrained liquidity at some issuers and the higher risk of default.
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