ArcelorMittal Kriviy Rih, Ukraine-based subsidiary of the world's largest integrated metals and mining company ArcelorMittal, has said that it is keeping its production capacity aligned with market requirements, as the trend for the recovery of the market is uncertain and as it has been experiencing a certain slowdown affecting export orders in the latter half of May.
According to ArcelorMittal Kriviy Rih's CEO Jean Jouet, the company's May production has followed a trend similar to that of the previous months.
May 2010 |
May2009 |
Jan-May 2010 |
Jan-May 2009 |
Change Jan-May 2010/2009 |
|
Pig iron |
460,700 |
396,200 |
2,243,000 |
1,683,400 |
+33.2% |
Steel |
541,900 |
422,100 |
2,581,100 |
1,887,100 |
+36.8% |
Rolled products |
448,300 |
369,700 |
2,223,800 |
1,771,900 |
+25.5% |
"Non-refund of VAT was and still remains the main issue for us. Our receivables have gone above the $300 million, which is a tremendous level that creates cash management issues. Urgent solutions by the state authorities to solve this issue are expected urgently," Mr. Jouet stated.