Zaporizhstal increased rolled steel production by 18.3% y/y in 2024

Zaporizhstal Iron and Steel Works increased its production of commercial rolled steel by 18.3% in 2024 compared to 2023, up to 2.43 million tons. This is evidenced by the company’s data.

The company produced 3.11 million tons of pig iron for the year, up 14.3% y/y, and 2.89 million tons of steel (+17.2% y/y).

The increase in production volumes in 2024 compared to 2023 was due to higher blast furnace productivity, increased demand for commercial pig iron and the partial restoration of the sea freight export route.

On a quarterly basis, pig iron production amounted to 782.9 kt (+61.4% y/y) in Q1, 742 kt (+12.3%) in Q2, 770 kt (-0.9%) in Q3, and 808.8 kt (+1.7%) in Q4. Steel production: Q1 – 730.9 kt (+85.7%), Q2 – 755.3 kt (+20.7%), Q3 – 690.6 kt (-5%), Q4 – 714.1 kt (-1%). Rolled steel production – 613.9 thousand tons (+88.9%), 616.4 thousand tons (+19.1%), 600.3 thousand tons (+0.3%), 597.7 thousand tons (-2.1%), respectively.

“In 2024, Zaporizhstal continued to operate in the context of the proximity of the frontline and the resulting security risks, a significant shortage of personnel due to mobilization and migration, significant energy supply restrictions, the crisis in global markets and stagnation of the domestic steel market, etc. It took great effort to maintain the plant’s production capacity utilization at an average of 75% and to continue support programs for the team, the region and the army. Undoubtedly, the key focus of Zaporizhstal’s team in 2024 was on finding solutions to improve its own sustainability, efficiency and competitiveness – and, given the disappointing forecasts for 2025, we will continue this work to save the plant and our team,” said Taras Shevchenko, Acting CEO of Zaporizhstal.

In December 2024, the Steel Works increased pig iron production by 9.7% compared to the previous month and by 7.2% y/y – to 284.7 thousand tons. Steel production increased by 8% m/m and 7.4% y/y – to 245.5 kt, while rolled products output increased by 22.3% m/m and 13.4% y/y – to 234.1 kt.

As GMK Center reported earlier, in 2023, Zaporizhstal increased its output by 50.6% compared to 2022, to 7.24 million tons. In particular, the plant produced

• pig iron – 2.72 million tons (+35.3% y/y);
• steel – 2.47 million tons (+65.4%);
• rolled products – 2.05 million tons (+57.2%).

Enemy shelling and destruction, interruptions in the supply of raw materials and energy, and disruption of logistics routes due to the blockade of seaports led to a decrease in Zaporizhstal’s production performance compared to pre-war levels. In particular, in 2021, the plant produced 4.5 million tons of iron, 3.8 million tons of steel and 3.2 million tons of rolled products. In 2023, the plant operated at an average of 70% of its capacity.