Chapter Metinvest: Ukraine has a huge potential for growth in steel demand
According to the General Director of group "Metinvest" Yuri Ryzhenkova, at present in Ukraine one of the lowest levels of consumption of steel per person, even in comparison with neighbouring countries.
According to the world steel Association Worldsteel, in 2018 the world average, apparent steel consumption in Ukraine amounted to 224,5 kg per person. For comparison, in South Korea it is 1047,2 kg per person in Taiwan of 753.5 kg per person and in the neighbouring Czech Republic 703 kg per person.
"In my understanding in Ukraine at the expense of economic growth potential for increased consumption of steel is huge. We even can abandon the export of steel, if we have consumption growth at the level of neighboring countries. And in this we have great hope for the new government, the President who care about the situation and want to change something," said Ryzhenkov journalists in the course held in Milan on 28-30 October European conference of steel manufacturers (European Steel Conference-2019).
According to a top Manager of "Metinvest", the global steel market has bottomed, but how long will he be in this state is unknown, adding that this may take from a few months to several years.
the Company in a difficult time working thoroughly on its core markets by strengthening cooperation with regular customers who know "Metinvest" and "Metinvest", in turn, involved in the business process and long-standing customers, said the chief.
He added that steelmakers today face serious problems, so holding of such forums as the European conference of steel manufacturers, allows you to exchange opinions, to better understand the situation on the markets for common development, to find more effective solutions.
Metinvest, the largest mining and metallurgical holding in Ukraine. The group's enterprises are located mostly in Donetsk, Lugansk, Zaporozhye and Dnepropetrovsk regions.
Main shareholders are SCM group (71.25%), Rinat Akhmetov and "Smart holding" (23.75%) that Vadim Novinsky, co-managers of the company.