What is hindering the growth of Ukraine’s metallurgy sector?

Ukrainian metallurgy has learned to operate under the conditions of Russia’s full-scale aggression. In the first eight months of 2024, the production of significant types of metal products increased by 21-31% compared to the same period in 2023.

At the same time, global iron ore prices have fallen by 36% since the beginning of the year. Steel prices fluctuate around $420/ton, partly due to the entry of cheaper Chinese products into the global market.

We discussed what prevents Ukrainian metallurgists from operating at total capacity during the event. Are there security risks, the condition of production facilities, logistical difficulties, or unfavourable conditions in global markets?

Additionally, we traditionally reviewed the main changes in the country’s economy over the past month. Reports from previous months are available on our website, and data visualization can be found in the Ukraine War Economy Tracker.

Participants:

• Stanislav Zinchenko, CEO of GMK Center;
• Oleg Krykavsky, Director of Government Relations, ArcelorMittal Kryvyi Rih;
• Oleksandr Kalenkov, President of Ukrmetallurgprom;
• Natalia Sydoruk, GR Director of INTERPIPE;
• Yiğit Tahmisoğlu, analyst in the Energy and Climate Policy team at Berlin Economics.

Moderator: Maria Repko, Deputy Director of CES.

Media partner — GMK Center.