HomeEconomyMetinvest reduced steel production...

Metinvest reduced steel production by a third

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The company explained the decline in steel and cast iron production by closing a number of its enterprises in Mariupol, Avdeevka and Zaporozhye, in particular, the Azovstal and Ilyich Iron and Steel Works, as well as the Avdeevka Coke Plant.

By the end of 2023, the enterprises of the metallurgical holding Metinvest reduced the production of steel and cast iron by 31% – to 2.03 million tons. This is stated in the report published on the website of the holding.

Over the year, pig iron production decreased by 36%, coke – by 25%, commercial semi-finished products – by 19%, finished products – by 36%.

The company explained the decrease in steel and cast iron production by closing some of its enterprises in Mariupol, Avdeevka and Zaporozhye from February 24, 2022, in particular, the Azovstal and Ilyich Iron and Steel Works, as well as Avdeevka Coke Plant.

“Today, the Ukrainian enterprises of the group, except for those located in Mariupol and Avdievka, continue to operate at different load levels, taking into account safety factors, personnel availability, supply of electricity, as well as logistical and economic factors,” Metinvest said.

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At the same time, the company noted that since August 2023, a sea corridor from Ukrainian ports to the Black Sea began to operate, which contributed to the restoration of the sea route for the export of mining products and metallurgical.

“This allowed the group to begin a gradual increase in the capacity utilization of its mining and processing plants. In particular, production increased at the Ingulets and Northern mining and processing plants, and the use of third-party ore for the production of concentrate at the Central mining and processing plant was increased,” Metinvest noted.

It was previously reported that in 2023, the Metinvest group transferred UAH 14.6 billion of taxes and fees to the budgets of all levels.

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Source: korrespondent

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