Ukraine: metal sector to strive when China shuts down
Ukrainian metal situation will be difficult until the ineffective capacities in China close down.
Ukrainian metal situation will be difficult until the ineffective capacities in China close down.
The experts don’t expect a noticeable increase in Ukrainian metal output or export this year.
In January-June Ukrainian metal companies received 12 billion UAH of losses, down by 5.5% YoY.
In January-May Ukrainian metal companies decreased their pre-tax loss by 14.1%, to 11 billion UAH from 12.8 billion UAH in 2014.
According to the Ukrainian Federation of Metallurgists, the state owes 7 billion UAH of unpaid VAT to the mining-metallurgical complex of Ukraine.
The majority of mining and metal companies in Ukraine have been on the verge of bankruptcy since 2014, which they managed to avoid only thanks to the devaluation of the national currency and the improved competitiveness of Ukrainian products on foreign markets, Metinvest CEO Yuriy Ryzhenkov said.
The pretax losses of Ukrainian metal companies (negative financial results from ordinary activities before taxation) rose by 84.4%, to UAH 22.5 billion, from UAH 12.2 billion as of the end of 2014, according to preliminary data.
Euroasian Economic Commission has informed of the prolongation of the antidumping investigation of hot-rolled carbon and alloyed steel rods, produced in Ukraine and exported to the Customs Union.