Industry News

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

Views : 28
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 >>
Shanghai Metals Market repeats witness on aluminium and alumina prices going opposite directions Shanghai Metals Market repeats witness on aluminium and alumina prices going opposite directions
Dec .23.2024
Shanghai Metals Market repeats witness on aluminium and alumina prices going opposite directions
Aluminium prices rise across the board on SMM, defying previous week’s declining trend Aluminium prices rise across the board on SMM, defying previous week’s declining trend
Dec .23.2024
Aluminium prices rise across the board on SMM, defying previous week’s declining trend
World primary aluminium production poised to outstrip 2023 record, reaching 66.522 million tonnes by November 2024 World primary aluminium production poised to outstrip 2023 record, reaching 66.522 million tonnes by November 2024
Dec .23.2024
World primary aluminium production poised to outstrip 2023 record, reaching 66.522 million tonnes by November 2024
Å Energi inks deal to supply power to Hydro's Norwegian aluminum plants for 10 years Å Energi inks deal to supply power to Hydro's Norwegian aluminum plants for 10 years
Dec .23.2024
Å Energi inks deal to supply power to Hydro's Norwegian aluminum plants for 10 years