Metinvest, Ukraine’s largest mining and metallurgical holding company, reduced steel production by 10% year-on-year to 1.455 million tons in January-September this year.
According to a press release from the parent company Metinvest B.V. on the results of its operating activities for Q3 2025, the decline in production was due to the full-scale military invasion of Ukraine.
As a result, the capacity utilization rate of the group’s plants in Ukraine was affected by factors related to security, personnel, electricity, logistics, and the economy. In 2025, Russia intensified its large-scale attacks on
Ukraine’s energy and gas infrastructure. In October, after the reporting period, this led to damage to the power supply systems at two of the group’s facilities in the mining and metallurgical segments, resulting in a decline in production.
In the third quarter of 2025, pig iron and crude steel production at Kamet Steel increased by 41% and 30% compared to the previous quarter, respectively, to 497 thousand tons and 546 thousand tons. The growth was due to the overhaul of blast furnace No. 9 in April-June 2025 and its higher productivity in the reporting period.
In the first nine months of 2025, pig iron production decreased by 6% compared to the same period last year to 1.285 million tons, mainly due to the overhaul of blast furnace No. 9 at Kamet Steel. As a result, crude steel production decreased by 10% compared to the same period last year to 1.455 million tons.
Pig iron and steel production in the third quarter of 2025 doubled compared to the previous quarter to 267 thousand tons, due to an increase in hot metal production. In the first nine months of 2025, production of semi-finished products fell by 9% year-on-year to 568,000 tons due to a decline in steel production and an increase in domestic consumption of billets at subsequent stages of production.
In the third quarter of 2025, finished product production decreased by 6% year-on-year to 591 thousand tons due to scheduled maintenance of rolling mills in Italy and Bulgaria in August. In particular, flat product production decreased by 8% to 265 thousand tons, and long product production decreased by 4% to 326 thousand tons.
In the first nine months of 2025, finished product production increased by 8% year-on-year to 1.818 million tons. In particular, flat steel production increased by 12% to 817,000 tons due to the resumption of hot-rolled coil production at the Ferriera Valsider plant (Italy), while long steel production increased by 5% to 1.001 million tons.
In the third quarter of 2025, coke production increased by 4% compared to the previous quarter to 287,000 tons after the launch of additional chambers of coke oven battery No. 2 at the Zaporizhzhya Coke Chemical Plant in June 2025. In the first nine months of 2025, coke production decreased by 3% to 821,000 tons due to the shutdown of coke oven battery No. 1 at Kametstal.
At the same time, in the third quarter of 2025, total iron ore concentrate production amounted to 3.989 million tons, which remained almost unchanged compared to the previous quarter, while commercial iron ore production increased by 4% to 3.928 million tons. Iron ore pellet production increased by 7% to 1. million tons due to the overhaul of the roasting machine at the Central Iron Ore Plant in the previous quarter, while iron ore concentrate production remained almost unchanged at 2.226 million tons.
In the first nine months of 2025, total iron ore concentrate production decreased by 4% compared to the same period last year to 11.713 million tons, as operations at the Ingulets open pit were suspended in July 2024. This was partially offset by increased production at the Hannivskyi open pit. Commercial iron ore production remained almost unchanged year-on-year at 11.456 million tonnes, including a 6% decline in iron ore concentrate production and a 9% increase in pellet production.
In December 2024, operations at the Pokrovskoye Coal production site were suspended due to intensified hostilities and developments on the front line. Subsequently, due to power shortages and a further deterioration in the security situation, both the mine and the enrichment plant suspended operations.
In addition, the group is considering the sale of United Coal (US) and its exclusion from its financial statements for the first half of 2025. This is due to the negative impact of geological difficulties, depletion of coal reserves, higher logistics costs, and a steady decline in coking coal prices.
As reported, Metinvest increased steel production by 4% in 2024 compared to 2024, to 2.099 million tons, while total iron ore production increased by 42%, to 15.733 million tons. At the same time, commercial iron ore concentrate production grew by 58% to 14.826 million tons. Coke output in 2024 decreased by 10% to 1.122 million tons. Metinvest increased its total production of pellets by 14% to 6.022 million tons, but reduced its total output of coking coal concentrate by 22% to 4.277 million tons.
Metinvest is a vertically integrated group of mining and metallurgical enterprises. Its enterprises are located in Ukraine, in the Donetsk, Luhansk, Zaporizhzhia, and Dnipropetrovsk regions, as well as in the European Union, the United Kingdom, and the United States.
The main shareholders of the holding are SCM Group (71.24%) and Smart Holding (23.76%). Metinvest Holding LLC is the managing company of the Metinvest Group.
