ArcelorMittal may consider increasing steel production in Ukraine if stability in region improves
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Update time : 2024-11-08 16:39:34
ArcelorMittal could potentially double its annual production by at least 3 million tons in Ukraine if stability improves in the region, Chief Financial Officer Genuino Christino indicated during a recent investor conference call. Christino did not specify the exact conditions needed for this production increase.
ArcelorMittal’s steel plant in Kryvyi Rih is currently operating at 40% capacity, producing 500,000 tons of steel each quarter.
Following Russia's 2022 invasion of Ukraine, the plant has been running one out of three blast furnaces, with a second furnace briefly restarted in April. However, due to high energy costs and shortages, operations will soon return to one furnace.
Additionally, coal supplies are partially sourced from a mine in Pokrovsk, eastern Ukraine, an area at risk of Russian control.
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