Pig iron smelting at the ArcelorMittal Kryvyi Rih plant increased by 16.9% in 2025, reaching 2 million 534.6 thousand tonnes. This is the largest increase among all the main types of products manufactured by the company.
Despite this, CEO Mauro Longobardo noted that the plan was to operate two blast furnaces continuously, but this was not possible due to the war. Production remains adaptive and depends on energy supplies and the market situation.
The key objective of the company remains to preserve production capacity and jobs for the future reconstruction of the country.
ArcelorMittal Kryvyi Rih is the largest producer of rolled steel in Ukraine. It specialises in the production of long products, in particular, rebar and wire rod. The company has a full production cycle, with production capacity designed for an annual output of over 6 million tonnes of steel, more than 5 million tonnes of rolled products and over 5.5 million tonnes of pig iron.
ArcelorMittal owns Ukraine’s largest mining and metallurgical complex, ArcelorMittal Kryvyi Rih, and a number of small companies, including ArcelorMittal Beryslav.
Ferrexpo plc, a mining company with its main assets in Ukraine, produced 3 million 221,461 thousand tons of pellets in 2025, which is 47% less than in the previous year (6 million 70,541 thousand tons).
According to the company’s press release on Wednesday, total production of commercial products (pellets and iron ore concentrate) in 2025 decreased by 9% to 6 million 141,759 thousand tons. In particular, the output of commercial concentrate amounted to 2 million 920,298 thousand tons against 709,803 thousand tons, respectively. The company also produced 81,787 thousand tons of DR pellets (489,720 thousand tons in 2024) and 3 million 139,674 thousand tons of premium pellets (a decrease of 44%).
The press release notes that at the end of the year, the intensity and frequency of rocket and drone attacks on Ukraine’s energy, transport, and port infrastructure increased. Disruptions to energy supplies and logistics channels resulted in lower-than-planned production in the fourth quarter. Total production for the quarter amounted to 1.1 million tons, including 0.7 million tons of premium Fe67% iron ore concentrate and 0.4 million tons of premium iron ore pellets.
It is noted that during 2025, the group successfully adapted to changes in market demand, increasing production of premium iron ore concentrate to a record 2.9 million tons, which is 48% of total production compared to 10% in 2024.
The group continued to actively manage its working capital and costs in challenging operating conditions last year. This included reducing working hours for employees, continuing to reduce purchases of goods and services, and further suspending all non-essential capital expenditures, overhead costs, and corporate social responsibility (CSR) expenses. The suspension of VAT refunds continued during the quarter, and the total amount of unpaid VAT as of the end of November 2025 was $69 million. If VAT continues to be unreimbursed, the total amount is projected to increase to approximately $74 million as of the end of December 2025.
As of December 31, 2025, the group’s net cash position was approximately $47 million (compared to $50 million as of June 30, 2025), with lease liabilities subject to potential final adjustments at the end of the year and no debt.
Commenting on the group’s performance, interim CEO Lucio Genovese noted that the last quarter of 2025 was one of the most challenging for the business and employees since the full-scale invasion of Ukraine. Rocket and drone attacks on regional energy infrastructure led to interruptions in electricity supply to businesses.
“Our operational teams worked hard to restore production with limited available capacity. Despite all these challenges, total production for the quarter exceeded 1 million tons, and for the second year in a row, production exceeded 6 million tons. This is more than 50% of our pre-war capacity and acceptable production figures, considering all the challenges we have faced during the fourth year of the war,” Genovese said.
However, he added that since December, the group’s export capabilities have been limited due to attacks in the Black Sea, and until repairs are completed and safe access to the sea is restored, the company will again focus on rail exports. At the same time, although this logistics channel is open, the electrified state railway network has less capacity. Therefore, the switch to diesel locomotives means that locomotives need more time to deliver wagons to the western border, and due to slower travel and turnaround times, the group has leased additional wagons from third-party suppliers, which incurs additional costs.
“Thanks to the capacities that state-owned utilities can provide us with, we are currently operating one pellet production line with additional concentrate production and are able to produce and export our high-quality iron ore pellets to serve our European customers. When the power supply, rail and port connections are restored, it will be possible to increase the production and sale of concentrate in Asian markets,” predicts the acting chairman.
The company hopes for an end to the war, “but we must remain vigilant, we must continue to work on the safety of our people, while making efforts to recover withheld VAT and ensure the integrity of our assets.”
As reported, Ferrexpo produced 2 million 808.594 thousand tons of pellets in the first nine months of 2025, which is 38.5% less than in the same period of 2024 (4 million 567.168 thousand tons). Total production of commercial products (pellets and iron ore concentrate) for the first nine months of 2025 increased by 0.9% to 5 million 67,888 thousand tons. In particular, the output of commercial concentrate amounted to 2 million 259,294 thousand tons against 457,264 thousand tons, respectively. The company also produced 81,787 thousand tons of DR pellets (326,168 thousand tons in the first nine months of 2024) and 2 million 726,807 thousand tons of premium pellets (a decrease of 35.7%).
In the first half of 2025, Ferrexpo produced 2 million 169,631 thousand tons of pellets, which is 34.2% less than in January-June 2024 (3 million 297,441 thousand tons). Total production of commercial products in the first half of 2025 decreased by 9% compared to the first half of 2024, to 3 million 393,135 thousand tons. In particular, the output of commercial concentrate amounted to 1 million 223,504 thousand tons against 429,865 thousand tons, respectively. The company also produced 81,787 thousand tons of DR pellets (in the first half of 2024 – 162,645 thousand tons) and 2 million 87,844 thousand tons of premium pellets (a decrease of 33.4%).
In Q1 2025, Ferrexpo produced 1 million 347.749 thousand tons of pellets, which is 26% less than in January-March 2024 (1 million 813.973 thousand tons). At the same time, total production of commercial products (pellets and iron ore concentrate) in Q1 2025 increased by 3% compared to Q1 2024, reaching 2 million 125,467 thousand tons. In particular, the output of commercial concentrate amounted to 777,718 thousand tons against 240,516 thousand tons in Q1 2024. The company also produced 81,879 thousand tons of DR pellets (not produced in Q1 2024), 1 million 105,049 thousand tons of premium pellets (a decrease of 36%), and 160,913 thousand tons of other pellets (an increase of 95%).
In 2024, Ferrexpo increased its production of pellets by 58% compared to 2023, from 3 million 845,325 thousand tons to 6 million 70,541 thousand tons. In 2023, the company produced 3.845 million tons of pellets, which is 36.5% less than in 2022.
Ferrexpo owns 100% of Yeristovsky GOK LLC, 99.9% of Bilanovsky GOK LLC, and 100% of Poltavsky GOK PJSC.
Ukrainian metallurgical companies focused on expanding their raw material base in 2025. Despite a slight decline in total steel production, pig iron production showed significant growth, increasing by 11.2% over the year. At the end of the period, pig iron production reached 7.884 million tons, compared to 7.090 million tons in 2024.
This is the second year in a row that pig iron production has grown at a significantly higher rate than other indicators. In December 2025, the company produced 696,200 tons of pig iron. The steady growth in primary raw material production is a key factor in the long-term stability of the industry and indicates investment in the restoration of blast furnace production.
Overall, pig iron production in Ukraine has grown by 31.4% since 2023. This allows metallurgists to reduce their dependence on imported billets and creates a basis for future growth in the production of finished steel and rolled products. However, the industry still has a long way to go to return to its pre-war capacity, when more than 21 million tons of pig iron were smelted in 2021.
PJSC Zaporizhkox, one of Ukraine’s largest producers of coke and chemical products and part of the Metinvest Group, increased its blast furnace coke production by 2.7% in 2025 compared to 2024, from 874,700 tons to 898,300 tons.
According to the company, 73,300 tons of coke were produced in December, compared to 76,300 tons in the previous month.
As reported, Zaporizhkox increased its blast furnace coke production by 2.1% in 2024 compared to 2023, to 874,700 tons from 856,800 tons.
In 2023, Zaporizhkox increased its output of blast furnace coke by 16% compared to 2022, to 856,800 tons from 737,400 tons.
Zaporizhkox has a complete technological cycle for the processing of coke-chemical products.
Metinvest is a vertically integrated mining group of companies. Its main shareholders are SCM Group (71.24%) and Smart Holding (23.76%). Metinvest Holding LLC is the managing company of the Metinvest Group.
JSC Tascombank has put up for auction the Slobozhanska Budivelnaya Keramika (SBK) porous ceramic block factory in the Kyiv region on the OpenMarket electronic platform (SE “SETAM” of the Ministry of Justice), according to the SETAM press service.
The auction for the Kyiv branch of SBK is scheduled for January 2, 2026, with applications accepted until January 1 and a starting price of UAH 76.8 million. The property is located in the Kyiv region, Borodianka district, village of Ozery.
The lot includes a production complex with a total area of 15,906.4 square meters, 212 units of industrial equipment, and a land plot.
The sale includes the right to conclude a financial leasing agreement and a purchase and sale agreement for real estate and movable property belonging to the bank.
Auction details and terms of participation are available at: is.gd/Jr3aDv
The OpenMarket electronic auction has been operating in Ukraine since 2014 and is a convenient tool for purchasing and selling property online. In total, assets worth over UAH 26.7 billion have already been sold through the system.
AUCTION, building ceramics, FACTORY, PRODUCTION, TASCOMBANK, СБК
In November of this year, Ukrainian metallurgical companies increased steel production by 18.5% compared to the same period last year, from 541,000 tons to 641,000 tons, but decreased by 1.1% compared to the previous month (648,000 tons).
In the ranking of global producers of this product, compiled by the World Steel Association (Worldsteel), Ukraine ranked 20th among 70 countries.
According to Worldsteel, in November 2025, there was a decrease in steel production compared to November 2024 in half of the top ten countries, except for India, the US, Turkey, Iran, and Brazil.
The top ten steel-producing countries in November were as follows: China – 69.870 million tons (down 10.9% from November 2024), India – 13.713 million tons (up 10.8%), the US – 6.8 million tons (+8.5%), Japan – 6.774 million tons (-1.6%), Russia – 5.190 million tons (-6.6%), South Korea – 4.965 million tons (-4.8%), Iran – 3.356 million tons (+9.2%), Turkey – 3.312 million tons (+10%), Germany – 2.841 million tons (-2.6%), and Brazil – 2.8 million tons (+0.7%).
Overall, steel production in November this year decreased by 4.6% compared to the same period last year, to 140.130 million tons.
Based on the results of the first 11 months of this year, the top ten steel-producing countries are as follows: China – 891.670 million tons (-4% compared to January-November 2024), India – 150.062 million tons (+10.3%), the US – 75.103 million tons (+3.2%), Japan – 74.102 million tons (-3.9%), Russia – 61.774 million tons (-5%), South Korea – 56.109 million tons (-3.7%), Turkey – 34.589 million tons (+2%), Germany – 31.346 million tons (-9.3%), Brazil – 30.788 million tons (-1.5%), and Iran – 28.798 million tons (+0.1%).
Over the first 11 months of this year, Ukrainian steel companies reduced steel production by 3.1% compared to the same period last year, from 7.028 million tons to 6.813 million tons. The country ranked 21st.
Overall, global steel production in January-November 2025 decreased by 2% compared to the same period in 2024, to 1 billion 662.222 million tons.
As reported, at the end of 2024, the top ten steel-producing countries among 71 countries were as follows: China – 1 billion 5.090 million tons (-1.7%), India – 149.587 million tons (+6.3%), Japan – 84.009 million tons (-3.4%), the US – 79.452 million tons (-2.4%), Russia – 70.690 million tons (-7%), South Korea – 63.531 million tons (-4.7%), Germany – 37.234 million tons (+5.2%), Turkey – 36.893 million tons (+9.4%), Brazil – 33.741 million tons (+5.3%), and Iran – 30.952 million tons (+0.8%).
In total, 71 countries produced 1 billion 839.449 million tons of steel last year, which is 0.9% less than in 2023.
At the same time, Ukraine produced 7.575 million tons of steel in 2024, which is 21.6% higher than in 2023 (6.228 million tons). The country ranked 20th in 2024.
In 2023, China produced 1 billion 19.080 million tons (at the level of the previous year), India – 140.171 million tons (+11.8%), Japan – 86.996 million tons (-2.5%), the US – 80.664 million tons (+0.2%), Russia – 75.8 million tons (+5.6%), South Korea – 66.676 million tons (+1.3%), Germany – 35.438 million tons (-3.9%), Turkey – 33.714 million tons (-4%), Brazil – 31.869 million tons (-6.5%), and Iran – 31.139 million tons (+1.8%). In total, 71 countries produced 1 billion 849.734 million tons of steel in 2023, which is 0.1% less than in 2022.
At the same time, Ukraine produced 6.228 million tons of steel in 2023, which is 0.6% less than in 2022. The country ranked 22nd in 2023.
At the end of 2022, the top ten steel-producing countries were as follows: China – 1.013 billion tons (-2.1%), India – 124.720 million tons (+5.5%), Japan – 89.235 million tons (-7.4%), the US – 80.715 million tons (-5.9%), Russia – 71.5 million tons (-7.2%), South Korea – 65.865 million tons (-6.5%), Germany – 36.849 million tons (-8.4%), Turkey – 35.134 million tons (-12.9%), Brazil – 33.972 million tons (-5.8%), and Iran – 30.593 million tons (+8%).
Ukraine ranked 23rd in 2022 with 6.263 million tons of steel (-70.7%).
In total, 64 countries produced 1 billion 831.467 million tons of steel in 2022, which is 4.3% less than in 2021.
Earlier, the Experts Club analytical center released a video analysis of the world’s leading steel producers from 2001 to 2024 – https://youtube.com/shorts/VgUU9MEMosE?si=c5yD04gmNtJoFblB
