Mittal to reduce gas consumption at Kryvorizhstal
Mittal Steel, the world's largest steelmaker, announced plans to reduce natural gas consumption at its steel plant in Ukraine, following sharp hike in gas price by Russia. As previously reported by SteelOrbis, Mittal acquired a 93.02 percent stake in Ukraine's largest steel plant Kryvorizhstal in October last year at $4.8 billion. Following the gas price hike by Russia, Mittal Steel indicated that it would reduce natural gas consumption at Kryvorizhstal and compensate it with cheap coal imported from China and Australia.