ArcelorMittal Kriviy Rih expects an increase of metal products export to the EU countries in the fourth quarter of the year.
The company plans to fill in the gap on the European market following the temporary suspension of operation at some metal enterprises due to the high electricity prices.
“We have a certain advantage over the price in Europe due to the availability of nuclear energy in Ukraine. However paradoxical that may sound, but this winter it will be more profitable to produce metal in Ukraine and send it to Europe than to produce in Europe itself. Even the ArcelorMIttal Group has temporarily suspended the operation of some of its European plants, mostly because of the electricity prices. We see a temporary opportunity for Ukraine to fill in the gap in this European industry in Q4 and hope to be able to return to a normal business activity,” AMKR CEO Mauro Longobardo said.
Despite the last two months being very difficult for the European industry because of the high energy carriers cost, AMKR believes that in Q4 2022 and Q1 2023 Europe will see a revival of the metallurgical market. (Ukrainian metal)