Zaporizhstal Reduces Steel Production 3.6 Times To 94,400 Tons In August

In August 2022, Zaporizhstal, one of the largest steel companies in Ukraine and a leading manufacturer of high quality steel, reduced steel production 3.6 times or by 244,600 tons year over year to 94,400 tons.

The company has said this in a statement, Ukrainian News Agency reports.

In August 2022, Zaporizhstal reduced the production of pig iron 2.7 times year over year to 145,600 tons, the production of rolled products fell 3.8 times year over year to 74,700 tons.

In the first eight months of 2022, the enterprise reduced the output of pig iron 2.1 times year over year to 1,418,200 tons, steel production - 2.4 times to 1,106,100 tons, production of rolled products - 2.3 times year over year to 981,600 tons.

According to the report, the decrease in the level of production compared to the same period last year is due to the shortage of raw materials and logistical problems caused by full-scale war in the territory of Ukraine.

As Ukrainian News Agency earlier reported, in early April, Zaporizhstal took equipment out of preservation and partially resumed production.

On March 2, Zaporizhstal temporarily suspended production.

In 2021, the plant reduced steel production by 0.1% year over year to 3,778,200 tons, increased the output of pig iron by 0.1% to 4,473,500 tons, while the production of rolled products remained at level of 2020 – 3,204,000 tons.

The main shareholders of the Metinvest group are SCM (71.24%) and the Smart-Holding group (23.76%), which participate in the management of Metinvest on a partnership basis.

100% of SCM shares belong to businessman Rinat Akhmetov, Smart-Holding is controlled by Vadym Novinsky.