ArcelorMittal Kriviy Rih, Ukraine-based subsidiary of the world's largest integrated metals and mining company ArcelorMittal, has said that in June this year it managed to keep its production at reasonable levels, with three out of five blast furnaces running, despite the continuing difficult market conditions and the decreasing number of orders.
According to ArcelorMittal Kriviy Rih's CFO V. Vaideeswaran, the company is suffering in the export markets due to the current unfair situation, as it is competing with the extra cost of non-payment of VAT refunds. "We expect the government to go back as soon as possible to normality on this matter," said Mr. Vaideeswaran.
In addition, Mr. Vaideeswaran expressed the hope that Ukraine's improved relationship with Russia will also open the steel market for Ukrainian exports and that technical barriers in the form of quotas will be lifted.
ArcelorMittal Kriviy Rih's output of |
June 2010 (mt) |
H1 2010 (mt) |
||
2010 |
2009 |
2010 |
2009 |
|
Pig iron |
419,800 |
343,600 |
2,663,500 |
2,026,900 |
Steel |
487,700 |
399,400 |
3,066,100 |
2,286,400 |
Rolled steel products |
410,100 |
352,000 |
2,632,800 |
2,126,900 |