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ArcelorMittal Kryvyi Rih maintains its position

16 May 2016

Paramzhit Kalon, CEO of PJSC «ArcelorMittal Krivoy Rog», reported on the progress I quarter 2016. According to him, Mining and Metallurgical Combine Dnipropetrovsk region remained at the previous positions. The results do not show any profit or loss. January for the company was not too successful. There were some losses, given the low cost of production. In February figures also left much to be desired. Over half of March «ArcelorMittal Krivoy Rog» was at a loss. In the middle of the month the cost of production began to rise. However, the positive trend was noticeable only in April. The rising cost of production was observed during April preserve and at the beginning of May. In the beginning of the month the Chinese market once again demonstrated a fall in prices.

The first quarter did not show any significant changes. Variable costs showed zero results. Fixed costs have gone at some disadvantage. The company has retained stability due to a drop in raw material costs. Accordingly, decreased production costs, amounting to 210 USD / ton. With regard to the mandatory payments, the amount of taxes the first quarter reached 1.4 billion. Hryvnia.

Steel output in the January-March 2016 reached about 1.7 million. Tons. In 2015, net income of «ArcelorMittal Krivoy Rog» was 46.26 billion. Hryvnia. Net income hit 1.38 billion. Hryvnia. The size of capital investment showed a 5.17 billion. hryvnia. press service of the officials said that the company has demonstrated a good safety margin. The crisis and negative economic conditions did not affect the fulfillment of the obligations now. Due to the difficult political situation «ArcelorMittal Kryviy Rih» intensified search for suppliers and raw materials. Last year there was a decline in the country's construction sector activity. Accordingly fell and domestic demand for steel products. Such a situation could not fail to affect the activity of the enterprise.

Thus, in accordance with the resultant outcomes of 2016 «ArcelorMittal Kryviy Rih» hopes for the best. Presumably the volume of steel smelting will make 6.9 million. Tons. It is possible to increase the proportion of deliveries in the direction of Robert F. One of the next major enterprise task is to stop the open hearth furnaces. It is assumed that the timing will shift somewhat. Instead, in 2020 DSPA-6 unit is shut down much earlier.

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