ArcelorMittal Kryvyi Rih increased steel production by 93% y/y in Q1

PJSC ArcelorMittal Kryvyi Rih, a subsidiary of the global steelmaker ArcelorMittal, increased steel production by 93% year-on-year – to 278 thousand tons in the first quarter of 2024. This was reported to GMK Center by the company’s press service.

Rolled steel production for the period increased by 94.1% y/y – to 262 thousand tons, pig iron – by 49.8% y/y, to 403 thousand tons, iron ore concentrate – by 49.8% y/y, to 1.77 million tons, and blast furnace coke – by 60.1% y/y, to 245 thousand tons.

Compared to the previous quarter, steel production increased by 11.2%, pig iron production – by 2.8%, rolled products production – by 13.9%, concentrate production – by 38.3%, and coke production – by 16.1%.

In March, the company produced 651 thousand tons of iron ore concentrate, up 13.8% month-on-month and 52.4% y/y. Steel production reached 124 thousand tons (+61% m/m; +61% y/y), pig iron – 138 thousand tons (+19% m/m; +26.6% y/y), rolled products – 116 thousand tons (+58.9% m/m; +56.8% y/y), coke – 84 thousand tons (+9.1% m/m; +50% y/y).

The company managed to achieve these results despite the Russian attacks against the domestic energy infrastructure and the resulting power outages.

«We plan to continue our production development program, in particular, to approach 50% utilization of our steelmaking capacity in the near future. At the same time, the stability of energy supply remains an important factor in the successful implementation of our plans,» comments Mauro Longobardo, CEO of ArcelorMittal Kryvyi Rih.

In 2024, ArcelorMittal plans to increase capacity utilization from 25% to 50%. In particular, it plans to maximize the utilization of the mining division, and to launch two blast furnaces in the metallurgical division in the second quarter of this year, in April. We have recently completed an extended overhaul of BF No. 6.

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. Recently, the plant announced its intention to pay remuneration to employees in the amount of 50% of the average monthly salary in 2023.

In 2023, the plant paid UAH 4.1 billion in taxes and fees to the budgets of all levels of Ukraine. 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.