Mauro Longobardo, CEO of ArcelorMittal Kryvyi Rih, Ukrainian subsidiary of Luxembourg-based steel producer ArcelorMittal, has stated that the company plans to launch a second blast furnace in April and to increase the capacity utilization to 50 percent, according to local media reports. Due to Russia’s constant attacks and related problems, the company was able to use only 25-30 percent of its metallurgical production capacity in 2023, while in the mining department the figure was 40 percent, as SteelOrbis previously reported.
In addition, noting that Ukraine’s Black Sea ports have been opened for the company, Mr. Longobardo stated that ArcelorMittal Kryvyi Rih hopes to strengthen its sales to Europe even though it is currently paying double the freight rates due to risks.