According to Mr. Vasyl Kharakhulakh, director general of the Metallurgprom association of Ukraine’s metallurgical enterprises, Ukrainian metallurgical enterprises finished January-October 2011 with a negative financial result from ordinary activities before tax of 1.9 billion UAH while during the same period last year it was 2.7 billion UAH.
He said that the profitability of metallurgical enterprises for 10 months of 2010 was 1.5%. He noted that the cost of steel production in the current year had grown and sometimes “does not catch up with the sales price level” due to falling prices of steel products in foreign markets.
He added that in January to November 2011 Ukrainian metallurgical mills increased the production of pig iron by 6% over the same period in 2010 to 26.504 million tons and steel by 7% to 31.928 million tons. (Nrcu.gov.ua)
The Ukrainian Metal
All about metal in Ukraine and World
