Ukrainian integrated steel mill ArcelorMittal Kryviy Rih has adopted its supply-side attitude to the challenging market environment.
As the global steel industry has been severely hit by the coronavirus pandemic, with most steel mills halting or reducing operations, ArcelorMittal Kryviy Rih is shifting its iron ore supplies from its traditional European market to China, nearly the sole market where demand nowadays exists. The company is planning to increase its iron ore concentrate exports to China up to 300,000 mt per month, ArcelorMittal Kryvyi Rih CEO Mauro Longobardo stated.
Meanwhile, China, where steel mills have been gradually resuming production as the virus outbreak there eases, is demonstrating high interest not only in iron ore, but also in pig iron and slabs, providing strong support for global suppliers.