ArcelorMittal Kryvyi Rih is set to break even – CEO

PJSC ArcelorMittal Kryvyi Rih is seeking to increase production to break even. This was announced by CEO Mauro Longobardo at a meeting with representatives of the Kryvyi Rih media, Metallurg newspaper reports.

According to him, the company has been able to increase production and export volumes – since 2024, the ports have been open, and ArcelorMittal Kryvyi Rih has been shipping concentrate, pig iron, and finished products.

Mauro Longobardo, in particular, reminded that last year the company increased pig iron production by 44% yoy to 2.67 million tons. “ArcelorMittal Kryvyi Rih is striving to produce more, as it needs to break even. Since the end of March, two blast furnaces have been operating at the plant, which is expected to continue until the end of 2025.

The CEO of ArcelorMittal Kryvyi Rih also emphasized the importance of remaining competitive.

“I believe we are paying for the inefficiency of the energy sector. They lost some assets and equipment because of the war, but they still have positive results. The same thing is happening with other services, such as Ukrzaliznytsia. There was an attempt to raise tariffs because they have financial problems and cannot cover these costs in any way. This is not the way to go. Now everything is back to normal, but we clearly see the trends,” he said.

Mauro Longobardo added that the company cannot pass on its costs to others, as raising prices could lead to the loss of customers.

The plant also has a serious staff shortage, which is partly caused by the mobilization. Currently, the company has returned to the 79% staff reservation quota, but there was a period when there was a critical situation and many employees resigned. It is difficult to replace these people, as new hires do not have professional experience, which affects production productivity.

“We are doing everything we can to keep the plant running. And it does not stop. In all this chaos between tariffs, politics, staff shortages and all other challenges, we are in Ukraine, we are with Ukraine,” Mauro Longobardo emphasized.

The company resumed operation of blast furnace No. 6, which was mothballed in the fall of 2024 due to the market crisis and high electricity tariffs.

As GMK Center reported earlier, ArcelorMittal Kryvyi Rih hopes to return to its pre-war investment plans of $500 million per year after the war. According to Mauro Longobardo, this will create opportunities not only for existing Ukrainian businesses but also for attracting significant investments to the country.