In January-July the Ukrainian metal industry received 14.3 billion UAH of losses, up by 15.3% YoY, or by 1.9 billion UAH.
“Financial activities yielded 8.7 billion UAH as opposed to 4.6 billion in January-July 2014, but because of the currency exchange rate we received the negative financial result prior to taxation”, said the Metallurgprom experts.
The net profit from the metal sales went up by 15.1%, or by 15.4 billion UAH, to 117.4 billion UAH.
Main raw materials also increased in price as compared with January-July 2014: iron ore price went up by 46%, pellets – by 16%, refractories – by 59-108%, limestone – by 72%.
Ferroalloys cost increased y 80-123%, that of coke – by 119%, of scrap – by 48%, natural gas – by 67%, electricity – 37%.
At the same time export prices for the major metal products of Ukrainian companies decreased by 23% in dollars, but went up by 58% in UAH.
In January-July the state reimbursed 9.8 billion UAH of VAT debt to metal companies.
But as of August 1, metal companies still claimed 6.2 billion UAH of VAT reimbursement (2.8 billion in August 2014). (Ukrainian metal)