ArcelorMittal Kryvyi Rih to raise prices for rebar and wire rod due to energy costs

ArcelorMittal Kryvyi Rih PJSC will raise prices for its rebar and wire rod by $50/t starting in March this year. This was announced in a press release by the company.

The main reason for this step, according to the company, is the extremely high cost of electricity in Ukraine.

«Electricity prices have continued to rise sharply in recent years, making them the highest in Europe and significantly increasing production costs,» ArcelorMittal Kryvyi Rih notes.

The company recalls that in the second quarter of 2024, the average price of electricity reached approximately $120/MWh excluding VAT. ArcelorMittal Kryvyi Rih urgently appealed to the government for support in curbing energy costs. However, since then, their cost has continued to rise, reaching approximately $230/MWh in February 2026, with peaks exceeding $370/MWh.

«This unprecedented rise in energy prices has forced the company to take immediate measures to ensure the economic viability of its operations,» the company emphasized.

It should be noted that ArcelorMittal Kryvyi Rih found itself at the epicenter of several crises at once — energy, tariff, and the impact of European regulations, according to a column by Oleg Krykavsky, AMKR’s director of government relations. In particular, the cost of electricity is an important factor that negatively affects the company’s competitiveness. Due to a combination of unfavorable tariff conditions and power supply disruptions, ArcelorMittal Kryvyi Rih was forced to close its blooming shop, which focused on exports to EU countries, in February this year.