Steel production in Ukraine fell in January

According to the Ukrainian steel trading association Ukrmetallurgprom, Ukraine produced about 284,000 tons of crude steel in January, down 84.7% from the same period a year ago due to the war between Russia and Ukraine.

Over the past four months, rocket attacks on Ukraine's energy infrastructure and power outages have affected the steel business. Due to the lack of electricity, the steel and iron ore industry of Ukraine operated at 15-20% capacity.

The war resulted in the disruption of the supply chain and the destruction of Azovstal and the Ilyich Iron and Steel Works, the two main steel mills owned by Metinvest.