Speaking at the meeting of the Interdepartmental Scientific and Technical Council of Ukraine on the Issues of Secondary Treatment and Continuous Casting of Steel held on October 31 in Kiev, Ukrainian mining and steel producing group Metinvest’s marketing director Roman Kurashev has stated that steel product consumption in Ukraine is expected to increase in the current year by approximately 25-30 percent year on year to 4.4 million mt (based on worldsteel methodology).
Mr. Kurashev noted that capacity modernization with a focus on cost reduction and strengthening of product portfolio would help Ukrainian producers to withstand the global challenges. In particular, local companies should focus on the development of products for the domestic market and import substitution, he added. According to Mr. Kurashev, preserving a competitive advantage is possible for Ukrainian steelmakers through the expansion of their product lines with high added value, for example, thin sheet steel (cold rolled, galvanized and polymer coated).
Metinvest’s marketing director also stated that the development of the domestic market is impossible without state policy directed at production revival, stimulus measures for the construction sector, and capital investments.