March 15, 2024

In the first two months of 2024, Ukrainian metallurgical enterprises produced 1.05 million tons of pig iron and 1.08 million tons of steel.

According to the preliminary information of the Ukrmetallurgprom association, in February 2024, Ukrainian metallurgical enterprises smelted 532,000 tons of steel, which is almost flat m-o-m.

For comparison, in February 2023, 424,000 tons of steel were produced - a year ago, Ukrainian steel mills were only resuming production after Russian attacks on Ukrainian energy infrastructure.

Pig iron production in February 2024 made 496,000 tons, compared with 555,000 tons in January and 354,000 tons in February 2023.

In 2023, Ukrainian steel mills produced 6 million tons of pig iron (-6% compared to last year's figure) and 6.23 million tons of steel (-0.6% compared to 2022).

We can conclude that Ukrainian steel output has reached a plateau, from which it is possible to move only if additional blast furnaces are put into operation at the country's largest plant - Arcelor Mittal Kryvyi Rih, which is still operating at 25% capacity (other large enterprises - Kametstal and Zaporizhstal are operating at 60-75% capacity and are unlikely to significantly increase production in the near future).