Significant help for Ukrainian steelmakers

20 May 2022
Significant help for Ukrainian steelmakers

          The blockade by Russia of Ukraine’s sea ports and Ukraine's severely depressed current demand for steel has left the nation depending effectively on only one market -- the EU -- so lifting these barriers is without doubt a big aid for struggling Ukrainian steelmakers.

          And 4 million mt/year hot- and cold-rolled coil and sheet producer Zaporizhstal, 49.99% owned by Metinvest, seems to be in a stronger position to make the most of the scrapped duties and quotas. Since its restart 1.5 months ago it has already exceeded 50% of its full capacity.

          Metinvest's fully owned billet and long rolled steel producer, Kamet Steel in Kamianske, in the Dnipropetrovsk region, is another one to benefit right away; in Q1, it increased output to 607,000 mt, with a good part of this shipped as billet for further processing to Bulgarian sections and bar mill Promet, also part of Metinvest. Billet exports are not quota-regulated, but removing quotas from Kamet’s rolls should help maximize their sales.

          The US suspended the Section 232 25% tariffs May 9 on steel imports from Ukraine for one year, amounting to partial relief because of a few product-specific duties staying in place.

Source : Steel Business Briefing

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