Metinvest, the largest Ukrainian mining and metallurgical holding, increased steel production by 4% in 2024 compared to 2024, to 099 million tons.
According to the press release of the parent company Metinvest B.V. on the operating results for 2024, the output of total iron ore products increased by 42%, to 1733 million tons.
At the same time, the production of commercial air defense systems increased by 58% to 1,826 million tons.
It is noted that capacity utilization in Ukraine was influenced by such factors as security, personnel, electricity, logistics and economic factors.
coke production in 2024 decreased by 10%, to 122 million tons.
It is noted that Metinvest simultaneously increased the total production of pellets by 14% to 022 million tons, but reduced the total output of coking coal concentrate by 22% to 277 million tons.
At the same time, it is specified that in the fourth quarter of 2024, cast iron production at Kametstal decreased by 6% compared to the previous quarter to 452 thousand tons, mainly due to a short repair shutdown of blast furnace No. 9 in October.
Crude steel production fell by 14% compared to the previous quarter, to 489 thousand tons, due to a shift in orders from finished products to commercial cast iron.
In 2024, pig iron production amounted to 818 million tons, which is 3% more than in the previous year, due to the efficient operation of two blast furnaces. As a result, crude steel production increased by 4% compared to the same period last year, to 099 thousand tons.
In the fourth quarter of 2024, the production of semi-finished goods amounted to 235 thousand tons (-6% compared to the previous quarter). Last year, the production of semi-finished goods increased by 3% compared to 2023, to 861 thousand tons due to an increase in orders.
in the fourth quarter of 2024, the production of finished products fell by 2% compared to the previous quarter, to 481 thousand tons, in particular, the production of flat rolled products increased by 4% to 193 thousand tons due to an increase in the production of hot-rolled sheets at Ferriera Valsider (Italy). The production of rolled products fell by 6% to 288 thousand tons, mainly due to a reduction in the portfolio of orders for Promet Steel (Bulgaria).
In 2024, the production of finished products decreased by 6%, to 2,159 thousand tons. In particular, the production of flat rolled products fell by 16% to 922 thousand tons due to the unfavorable European market conditions, especially the availability of cheaper Russian plates. This has led to a lack of profitable hot-rolled sheet orders and a shortened hot-rolled sheet order book, the company notes. At the same time, the output of galvanized cold-rolled products increased by 42% due to the restoration of operation of inductor No. 4 at Unisteel in Ukraine after it was shut down for major repairs in the second quarter of 2023.
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