Steel production increased by 68% y/y, rolled products – by 66%, pig iron – by 15%, iron ore – by 86%, and coke – by 53%
PJSC ArcelorMittal Kryvyi Rih, a subsidiary of the global steelmaker ArcelorMittal, increased production of all major products in May 2024 despite the ongoing attacks on Ukraine’s energy infrastructure and related power supply restrictions. This was reported to GMK Center by the company’s press service.
Steel production for the month increased by 68% compared to May 2023 to 208 thousand tons, while pig iron production increased by 15% y/y – to 247 thousand tons. Production of rolled products increased by 66% y/y – to 193 thousand tons, coke – by 53% y/y, to 127 thousand tons, and iron ore concentrate – by 86% y/y, to 631 thousand tons.
In May, steel production increased by 28%, iron production –– by 40%, coke production – by 44%, and rolled products – by 27% compared to the previous month. At the same time, the company reduced concentrate output by 15% m./m.
«The increase in steel production is due to the launch of blast furnace No. 6 and coke oven batteries No. 3-4 in the second half of April. At the same time, the company has to operate under significant restrictions in electricity supply due to the ongoing attacks on the country’s energy infrastructure. This has a negative impact on the stability and efficiency of production processes. In particular, the mining department was forced to reduce production of iron ore concentrate by 15% compared to the previous month,» the statement said.
In 2024, ArcelorMittal plans to increase capacity utilization from 25% to 50%. In particular, the company plans to maximize the utilization of its mining division and operate two blast furnaces.
Last year was a challenging one for ArcelorMittal Kryvyi Rih, which produced 1 million tons of steel, 1.5 million tons of pig iron and 0.9 million tons of commercial rolled products. However, the most important thing is that the company continues to operate, contributing to the Ukrainian economy during the war, and maintains its production facilities in order to increase production as soon as possible if the situation improves.
In 2023, the plant paid UAH 4.1 billion in taxes and fees to the budgets of all levels of Ukraine. Employees also received a bonus of 50% of their average monthly salary based on the results of the year. The company was included in the rating of the best companies in Ukraine with an impeccable reputation.
ArcelorMittal Kryvyi Rih is a full-cycle steelmaking enterprise in Ukraine. Its production facilities are designed to produce over 6 million tons of steel, 5 million tons of rolled products and 5.5 million tons of pig iron annually. The company employs over 20 thousand people.
