KYIV. May 11 (Interfax-Ukraine) – ArcelorMittal Kryvyi Rih (Dnipropetrovsk region) has almost completely stopped shipments of steel products to the Russian Federation due to economic inexpediency, but could resume deliveries if market prices increase.
“We don’t sell much in Russia. We can start supplies there. But our sales are very different from what there were before,” CEO of PJSC ArcelorMittal Kryvyi Rih Paramjit Kahlon said at a press conference at Interfax-Ukraine in Kyiv.
According to him, the recovery of the market started on March 15 this year and steel prices have grown slightly. However, prices in the Chinese market again decreased from May 2 to May 9.
“Time will show whether it was a local or global fall,” the top manager said.
Speaking on March 21 at the event, entitled “The domestic mining and steel market of Ukraine: problems and prospects”, Deputy director general of ArcelorMittal Kryvyi Rih for cooperation with state authorities and foreign communications Volodymyr Tkachenko said the situation in the steel market is extremely unfavorable this year and that all countries are therefore protecting their manufacturers and their domestic markets.
