ArcelorMittal Kryvyi Rih among the top exporters of Ukraine in 2024 – Forbes

The company secured $1.1 billion in total exports

ArcelorMittal Kryvyi Rih Mining and Metallurgical Company has been included in the ranking of Ukraine’s largest exporters in 2024 according to Forbes Ukraine. The publication published a list of the TOP-50 companies that have made a significant contribution to the promotion of the Made in Ukraine brand on the global stage and support for the domestic economy.

The company took one of the leading positions in the mining and metals sector, becoming one of the five largest exporters in the industry. Last year, ArcelorMittal Kryvyi Rih’s total exports amounted to $1.1 billion, which is significantly higher than in 2023 – $0.7 billion.

Mauro Longobardo, CEO of ArcelorMittal Kryvyi Rih, noted that the company, being the largest metallurgical producer in Ukraine, plays a key role in filling the country’s budget with foreign exchange earnings.

“In 2024, the company significantly increased its exports, in particular due to the partial unblocking of the sea corridor. Iron ore concentrate, pig iron and billets were the largest export commodity groups. Prior to the full-scale invasion, our main markets were Africa, the Middle East, the EU, the US and South America. Now, given the restrictions and challenges of wartime, we are focusing on the domestic market and supplying to the EU countries closer to us, which is more attractive in terms of transportation costs,” Longobardo added.

As GMK Center reported earlier, in 2024, ArcelorMittal Kryvyi Rih increased production of all types of products compared to 2023. Concentrate output increased by 71.7% y/y – to 7.82 million tonnes, pig iron by 42.7% y/y – to 2.17 million tonnes, steel by 69.9% y/y – to 1.65 million tonnes, rolled products by 72.1% y/y – to 1.53 million tonnes, and coke by 48.5% y/y – to 1.25 million tonnes.