steel mills of ArcelorMittal in Europe pay for electricity is 2-3 times cheaper than the company in Ukraine. "ArcelorMittal Kryvyi Rih", the largest Ukrainian mining and metallurgical company, considers that the price of electricity in the country is overstated and does not reflect the global trend of lower prices for raw materials and energy.
"Significant costs for this article have a negative impact on the cost of production of the enterprise. The high price of electricity becomes a critical factor for the Ukrainian steel industry, which is now significantly complicated due to falling prices for metal, as well as a decrease in the number of sales in a pandemic coronavirus," - said in a statement.
ArcelorMittal, the biggest foreign investor in the country, encourages the government of Ukraine to resolve the situation with non-market approaches to pricing electricity. According to the company, it has caused damage to the industry and jeopardizes the plans for overcoming the crisis and could trigger further decline in industrial production in the "ArcelorMittal Kryvyi Rih".
"the Ukrainian electricity market is out of the world trend, and from the end of April we are even seeing the growth of RSV (the day-ahead market). This situation puts the domestic metallurgy in a non-competitive position on the world market compared with other steel producers," - says Oleg Aiko, the head of Department of purchases of raw materials and energy resources of the administration to supply, "Mittal steel Krivoy Rog".
Monthly "ArcelorMittal Kryvyi Rih" consumes from 300 to 340 million kilowatt-hour depending on production volumes and graphs download the main units.
Public joint stock company "ArcelorMittal Kryviy Rih" takes the leading positions among the largest enterprises of mining and metallurgical complex of Ukraine and is part of an international Corporation Arcelor Mittal, one of the largest foreign investors in the country.
PJSC "ArcelorMittal Kryvyi Rih" – the enterprise with the full metallurgical cycle, which includes coke production, mining (quarrying and underground ore mining) and steel production, which are sintering, blast furnace, steelmaking and rolling departments.
