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.
The Embassy of the Republic of Uzbekistan invites interested Ukrainian companies to participate in the 21st International Exhibition “Transport and Logistics – TransLogistica Uzbekistan 2025”, which will be held on November 11–13, 2025, at the Uzexpocenter Exhibition Complex in Tashkent.
The event traditionally brings together leading specialists in the transport and logistics industry and is Uzbekistan’s key specialized platform for establishing direct contacts between suppliers, manufacturers, and service customers. The exhibition provides opportunities to exchange experience, establish business contacts, and find modern solutions for business development.
The exhibition’s business program includes key events:
• Uzbekistan Airports, Aviation and Logistics Forum (November 11);
• 45th meeting of the CIS Coordination Council for Transport (CCCT) (November 12).
To attend the event, you must register at the link.
The National Agency for Promising Projects has presented a list of specially authorized crypto exchanges participating in a special tax regime for foreign citizens.
The list includes all three crypto exchanges operating in Uzbekistan — Kobea Group, Coinpay, and Asterium. Foreigners will be able to open an account with any of them to obtain exemption from tax on income received outside the republic.
The President of Uzbekistan, by his decree dated October 4, 2025, No. UP-180, established that from January 1, 2026, the income of foreign citizens received from sources outside Uzbekistan will be exempt from personal income tax, subject to the following conditions:
Those wishing to participate in the regime must submit an application through the Tax Committee to a special commission.
Money transferred to an account or crypto wallet will only be credited after the bank (exchange) has assessed the risks and verified compliance with anti-money laundering rules.
In January-September 2025, PJSC Insurance Company Persha (Kyiv) collected UAH 1.034 billion in gross premiums, which is 24.19% higher than the figure for the first nine months of the previous year. Net premiums amounted to UAH 971.833 million (+25.68%), according to Standard Rating, which confirmed the company’s credit rating/financial stability rating at “uaAA” on the national scale based on its performance during the period.
In particular, it is noted that revenues from individuals grew by 40.75% to UAH 430.970 million, and from reinsurers by 9.04% to UAH 1.881 million. Thus, based on the results of the first nine months of 2025, the share of individuals in the insurer’s gross premiums was 41.69%.
Insurance payments sent to reinsurers for the first nine months of 2025 increased by 4.69% compared to the same period in 2024, to UAH 61.812 million, while the reinsurers’ share in insurance premiums decreased by 1.11 percentage points, to 5.98%.
RA reports that in the first three quarters of 2025, IC “Persha” paid its clients UAH 455.588 million in insurance payments and reimbursements, which is 42.15% higher than the amount of payments in the same period of 2024. Thus, the payout ratio increased by 5.57 percentage points to 44.08%.
During the reporting period, the insurer’s operating profit increased to UAH 86.949 million, and net profit to UAH 90.008 million.
As of October 1, 2025, the company’s assets grew by 22.18% to UAH 1.343 billion, equity increased by 41.75% to UAH 356.530 million, liabilities increased by 16.37% to UAH 986.008 million, and cash and cash equivalents grew by 96.9% to UAH 450.771 million.
At the same time, the RA notes that as of October 1, 2025, IC “Persha” had formed a portfolio of current financial investments in bank deposits in the amount of UAH 17.707 million, which, together with cash and cash equivalents, covered 47.51% of its liabilities.
PJSC Insurance Company Persha has been operating in the Ukrainian insurance market since 2001. The company’s main specialization is auto insurance. IC Persha is a member of the Motor Transport Insurance Bureau of Ukraine, the League of Insurance Organizations of Ukraine, and the National Insurer of International Road Transport (TIR).
In January–June 2025, foreigners purchased 71,155 homes in Spain, which is 2% more than a year earlier; with their transactions accounting for 19.3% of all home sales, according to the Spanish Notary Council. The British lead the way with 5,731 transactions, followed by Morocco with 5,654 and Germany with 4,756, according to notaries.
Among the nationalities that showed historic highs was Ukraine: in the first half of the year, 2,165 home purchases by Ukrainian citizens were registered, which was a record for the series of observations. Citizens of the US, Portugal, Italy, Morocco, Colombia, and the Netherlands also set new records.
According to notarial statistics, the main concentration of transactions with foreigners is recorded in the coastal provinces and islands—Alicante, the Balearic Islands, Malaga, and Santa Cruz de Tenerife. The market continues to show price differences: American buyers paid an average of €3,465 per square meter, the highest among foreigners; Ukrainians paid around €1,832 per square meter, and Moroccans paid €747 per square meter.
According to notaries and the regional press, purchases by Russians fell by 17.4% and remain below pre-crisis levels; they did not feature among the top nationalities in terms of the number of transactions.
Insurance premiums accrued under international Green Card insurance contracts concluded by member companies of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) in January-October 2025decreased by 3.74% compared to the same period in 2024, to UAH 4.620 billion. According to the MTIBU website, the number of Green Card contracts concluded during this period decreased by 4.52%, to 1.204 million.
At the same time, the amount of compensation paid on claims increased by 2.07% to EUR 42.629 million, while the number of claims paid decreased by 7.03% to 12.3 thousand.
The MTIBU is the only association of insurers providing compulsory civil liability insurance for owners of land vehicles for damage caused to third parties.
The Green Card is a system of insurance protection for victims of road traffic accidents, regardless of their country of residence and the country of registration of the vehicle. It is valid in 45 countries in Europe, Asia, and Africa.
According to the decision adopted by the General Assembly of the Council of the International Motor Insurance Bureau “Green Card” in Luxembourg in May 2004, Ukraine has been a full member of this system since January 1, 2005.
