Ukraine-based MMC’s steel production in Jan-Nov period declined by 3.4pc to 18.62mn mt from the prior-year, according to the preliminary data provided by Ukrmetalurgprom. Steel sector in Ukraine is witnessing various challenges apart from dealing with the economic impacts of the COVID-19 outbreak as the second wave of the pandemic has hit Europe.
Mining and Metallurgical Complex of Ukraine (MMC) produced 18.50mn mt of pig iron in the Jan-Nov period, up by 0.2pc from the prior-year period. MMC’s production of rolled metal stood at 16.64mn mt, down by 0.8pc from the prior-year period.
In the Jan-Oct period, the company’s steel output had declined by 5pc, as reported by Davis Index.
The MMC complex is a low-cost exporter of raw materials and semi-finished products.