Steel production in the country increased on 32% as well as cast iron production on 25% since the beginning of the year.

Ukraine produced 2.4 million tons of steel in January-April, which is over 32.7% more than in the same period last year, the press service of Ukrmetalurgprom reports, citing WorldSteeel data.

The increase in production made Ukraine rise to 22nd place (from 23rd) in the ranking of the world’s largest steel producers, which includes 71 countries.

In total, global steel production in the first four months of the year decreased at a yearly rate of 0.8% to 625.7 million tons.

China is the leader in production, having reduced its output by 3% to 354 million tons.

In terms of cast iron production, Ukraine remained in 15th place in the global ranking of 40 countries, despite a 25% increase in production (January-April 2023) to 2.19 million tons.

Global cast iron production decreased at a yearly rate of 2.4% to 472 million tons. China is also the leader here with a production volume of 284.9 million tons (-4.3% compared to January-April 2023).

As a reminder, Philip Morris is investing $30 million in a new factory in Ukraine.

Source: https://investory.news/