Ukraine’s Zaporizhstal, an integrated flat steel producer belonging to Metinvest group, has stated that in 2020 it intends to keep production volumes at the level of the previous year.
As SteelOrbis reported previously, in 2019 the company’s crude steel output amounted to 4 million mt, down 2.5 percent year on year, while its pig iron production decreased by 0.6 percent to 4.36 million mt, year on year. Finished steel production totaled 3.35 million mt, down 5.3 percent compared to 2018.
Moreover, the company highlights the reduction of non-standard material production among its plans for the current year. “We lose $100-150 per tonne of non-standard material. That is money we could use to finance our investment and social projects”, said Alexander Mironenko, the company’s CEO.
Another task which Zaporizhstal has announced for 2020 is the large-scale reconstruction of the company’s equipment. As currently such projects lack funding, the company expects to find an investor or partner in 2020. “Just to install an oxygen converter, we need more than $1 billion for five to seven years,” Mr. Mironenko stated.