ArcelorMittal Kryvyi Rih reduced steel production by 18.5% y/y in 2023

During the year, the steel division of the enterprise worked at 25-30% of the total capacity

In 2023, PJSC ArcelorMittal Kryvyi Rih reduced steel production by 18.5% compared to 2022, to 1 million tons. This was reported to GMK Center by the company’s press service.

«Throughout the year, Ukraine’s iron and steel industry continued to recover from the unprecedented losses of 2022 and catch up with production. Due to the constant enemy attacks and related problems, ArcelorMittal Kryvyi Rih was able to utilize its steel production capacity by 25-30% in 2023, while in the mining department this figure was 40%,» the statement said.

Last year, the plant reduced pig iron production by 7.2% y/y – to 1.5 million tons. Rolled steel output amounted to 0.9 million tons, down 19.2% compared to 2022.

Production of 6% moisture coke decreased by 20.3% y/y – to 0.9 million tons, while iron ore concentrate increased by 0.4% y/y – to 4.6 million tons. Ore production for the year amounted to 11.4 million tons, down 2.1% compared to 2022.

According to Mauro Longobardo, the company’s CEO, the 2023 results were negatively affected by prices for electricity, transportation, coal and other components, which increased, depending on the item, by 2-5 times compared to pre-war levels. In addition, in the 1st and 2nd quarters, the plant had serious problems with the supply of resources, including electricity and water.

In 2024, ArcelorMittal Kryvyi Rih plans to increase production.

As GMK Center reported earlier, in 2022, ArcelorMittal Kryvyi Rih reduced its rolled steel production by 76.1% year-on-year – to 1.1 million tons. Production decreased by 70% y/y – to 1.6 million tons, and steel production decreased by 75.6% – to 1.2 million tons. Iron ore production decreased by 56.1% y/y – to 11.6 million tons, while concentrate production fell by 59.1% y/y – to 4.5 million tons.

ArcelorMittal Kryvyi Rih is a full-cycle steel plant 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.