In 2024, ArcelorMittal Kryvyi Rih ups steel production by 70% to almost 2 million tons

In 2024, compared to 2023, the ArcelorMittal Kryvyi Rih mining and metallurgical plant (Dnipropetrovsk Region) increased steel production by 69.9% to 1.651 million tons.

This is announced in the company's statement, Ukrainian News Agency reports.

In 2024, pig iron production also increased by 42.7% to 2.168 million tons, rolled steel - by 72.1% to 1.535 million tons, coke - by 48.5% to 1.255 million tons, ore production - by 68.3% to 19.189 million tons, and concentrate production - by 71.7% to 7.821 million tons.

According to Mauro Longobardo, CEO of ArcelorMittal Kryvyi Rih, the war continues to affect all processes related to production.

The report states that due to a number of problems, including a shortage of electricity, high prices for electricity and the need to import a significant part of it, expensive logistics, and an unfavorable price situation in the metal products markets, ArcelorMittal Kryvyi Rih was unable to reach a break-even level in 2024.

In mid-2024, the company was able to temporarily reach 50% of its metallurgical production capacity.

The mining department operated at about 70-75% of pre-war production.

But the company is making efforts to manage on its own, without financial assistance from the Group.

"Our business plan is focused on the survival of the enterprise, so far we are very cautious in our forecasts and understand that our results are far from pre-war. We continue to invest only in a strategically important project for production - the construction of the "Third Map" tailings facility, the first stage of which we completed in 2024," Longobardo said.

As Ukrainian News Agency earlier reported, in 2023, compared to 2022, the ArcelorMittal Kryvyi Rih mining and metallurgical plant reduced steel production by 18.5% to 1 million tons.

In early December 2024, ArcelorMittal Kryvyi Rih predicted a further decline in production, a decrease in import VAT and foreign exchange earnings in the event of an increase in the electricity transmission tariff.

The plant's capacity is designed for an annual output of over 6 million tons of steel, over 5 million tons of rolled steel and over 5.5 million tons of pig iron.

95.1283% of the plant's shares belong to Mittal Steel Germany GmbH, which is part of the international holding Arcelor Mittal.

ArcelorMittal Kryvyi Rih is the largest producer of rolled steel in Ukraine, specializing in the production of long rolled steel, in particular reinforcement and wire rod.