The Ministry of Economy downgraded its forecast for steel production to 4% in 2021

In 2021, Ukrainian steelmakers may increase production of steel by 4% to 21.495 million tons against 2020, according to the Ministry of Economy’s adjusted forecast based on the production statistics from Ukrmetallurgprom analyzed by Interfax-Ukraine.

Production of pig iron in 2021 is expected to total 21.281 million tons, 4% up from 2020. Production of rolled products may increase by 4% to 19.194 million tons against the previous year.

In August, the Ministry of Economy projected growth of steel production by 6.3% to 21.92 million tons in 2021 against 2020. Production of rolled products in 2021 is expected to reach 19.5 million tons, pig iron 21.8 million tons against 2020.

If the current trends in scrap supplies remain, in the next year, the indicator may grow by 13% to 3.255 million tons.

Pipe production may grow by 16% to 986 thousand tons, and coke production may drop by 1% to 9.609 million tons. Conversely, production of refractory products may grow by 8% to 239 thousand tons. Production of sinter ore is expected to increase by 5% to 33.468 million tons.

As reported earlier, in 2020, companies of Ukraine’s mining & metals sector decreased steel production by 1.1% to 20.62 million tons y-o-y. Production of rolled products in 2020 grew by 1.2% to 18.43 million tons, and production of pig iron grew by 1.8% to 20.42 million tons.