In the current year, Ukraine's largest vertically-integrated mining and steel group Metinvest plans to increase production of steel by 61 percent to 14.5-15 million mt after combining its assets with competitor Ilyich Iron and Steel Works of Mariupol and modernizing its plants.
Metinvest, which is also a miner of iron ore, will concentrate on increasing steel production and is "a bit more conservative in terms of iron ore prospects," its chief financial officer Sergiy Novikov said, adding, "Going beyond 2013 we do see a shift more to the steel segment."