If the blockade of the Ukrainian Black Sea ports is not lifted or global steel prices do not start growing, ArcelorMittal Kirviy Rih will have to completely shut down its operation.
Speaking about 26 thousand employees, the company CEO Mauro Longobardo said that the support would not last forever. AMKR operates one blast furnace out of four making several thousand tons of products shipped mostly to Ukrainian enterprises.
“There will be no metallurgy in Ukraine without seaports. We did what we could,” he said.
Exports to Europe are loss-making for the company. AMKR is trying to take metal to Poland, but additional transport expenses make up $100-130 per ton. (Ukrainian metal)