Ilyich Iron and Steel Works of Mariupol, a subsidiary of Ukraine's largest vertically-integrated mining and steel group Metinvest, has stated that it plans to increase its iron ore agglomerate output by 6.3 percent year on year to 12.732 million mt in 2012. In the given year, production of pig iron will go up by 4.3 percent to 5.402 million mt, production of crude steel will increase by 2.1 percent to 6.250 million mt, while output of rolled steel will move up by 6.3 percent to 5.534 million mt , all on year-on-year basis.
For the current year, Ilyich expects to record a net loss of UAH 3.56 billion ($44 million) . The main reason for the expected loss is the high price of raw materials.
Meanwhile, in the current year the company plans to invest about UAH 1.371 billion ($17 million) in its projects.