Losses in the metallurgical industry of Ukraine in January - May 2013 amounted to 4 billion 500 million UAH

In the first five months since the beginning of 2013, the Ukrainian metallurgical region received 4 billion 500 million UAH losses. This was announced by the chairman of the Association of the "Federation of Metallurgists of Ukraine" Sergey Belenky.

In January - May, Metallurgy of Ukraine demonstrated negative financial results of profits to taxation, which decreased by 23.7 percent compared to APPG -2012 (1 billion 400 million UAH). At the same time, the income of met enterprises decreased by 9.9 percent (6 billion 500 million UAH) over the same period and amounted to 58 billion 900 million UAH.

In addition, in this period, the profitability of metallurgical production continued to fall. In the first five months of 2013, the negative level of profitability in Ukrainian metallurgy was 9.1 percent versus 8.1 percent in the APPG-2012.

Recall that the Metallurgprom OP predicts that the losses of Ukrainian met enterprises in the first half of 2013 reached UAH 7 billion. The situation is aggravated by a drop in demand in traditional sales markets and an increase in the cost of steel production.

"The metallurgy has developed an extremely difficult situation. Forecasts for the current year are quite pessimistic, because the market conditions are unstable and not expected to be expected to be significant and significant improvement," said Sergey Belenky at the press conference held yesterday in Dnepropetrovsk.