Ukrainian mining & metals companies will cut monthly steel production in April–May by 25% to 1.4 million tons compared to the same period of the previous year.
This opinion was presented by GMK Center Chief Analyst, Andrii Tarasenko, during a webinar of the Ukrainian Lime Industry Association (ULIA).
According to him, these indicators correspond to those of the crisis of Q4 2019.
The reason is the economic crisis triggered by the coronavirus pandemic.
Specifically, the consequences of the crisis for the steel industry of Ukraine may be as follows:
“The situation will not improve quickly. We will be able to reach the pre-crisis levels only in 2021,” explains the GMK Center Analyst.
As reported earlier, Ukrainian mining & metals companies cut steel production in January–March by 3.4% to 5.32 million tons compared to Q1 last year. Production of rolled products in January–March grew by 1.8% to 4.6 million tons, whereas production of pig iron decreased by 2.2% to 5.10 million tons.
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