Industry News

ArcelorMittal may consider increasing steel production in Ukraine if stability in region improves

Views : 68
Update time : 2024-11-11 16:37:42
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.
Related News
Read More >>
Public consultation opens for Fujian Bangte’s stainless steel pipe expansion project Public consultation opens for Fujian Bangte’s stainless steel pipe expansion project
May .15.2025
Public consultation opens for Fujian Bangte’s stainless steel pipe expansion project
Tata Steel has Rs 15,000 crore capex plan for FY26 spanning India, UK, Netherlands operations Tata Steel has Rs 15,000 crore capex plan for FY26 spanning India, UK, Netherlands operations
May .15.2025
Tata Steel has Rs 15,000 crore capex plan for FY26 spanning India, UK, Netherlands operations
Rio Tinto to launch Simandou iron ore shipments in Nov Rio Tinto to launch Simandou iron ore shipments in Nov
May .15.2025
Rio Tinto to launch Simandou iron ore shipments in Nov
Iron ore prices break through $102 mark Iron ore prices break through $102 mark
May .15.2025
Iron ore prices break through $102 mark