CEO Mauro Longobardo reported that ArcelorMittal Kryvyi Rih failed to reach break-even production levels in 2024. He attributed this to several factors, including electricity supply shortages, high energy prices, the need to import a significant portion of electricity, staffing, and expensive logistics with unfavorable pricing conditions in metal markets.
“All of this negatively affects our competitiveness and, consequently, our financial results,” he said.
However, by mid-year, the company temporarily reached 50% capacity utilization in its metallurgical production, while the mining department operated at 70-75% of pre-war production levels, according to the company’s press office.
ArcelorMittal Kryvyi Rih reported significant production growth in 2024, with notable increases across all key categories compared to 2023. Pig iron production rose by 42.7% year-on-year to 2.17 million tons, while steel output surged nearly 70% to 1.65 million tons. Rolled product volumes climbed 72% to 1.53 million tons, and coke production increased by 48.5% to 1.25 million tons.
The company’s mining operations also demonstrated positive performance. Ore extraction grew by 68% year-on-year to 19.19 million tons, and iron ore concentrate production rose nearly 72% to 7.82 million tons.
CEO Mauro Longobardo said that the company’s primary objective for 2025 is to achieve self-sufficiency.
The company operates a full production cycle, with an annual production capacity exceeding 6 million tons of steel, over 5 million tons of rolled products, and more than 5.5 million tons of pig iron according to reports.