Boston, MA -- (ReleaseWire) -- 01/03/2014 -- Ukraine's metals sector will see modest growth over the forecast period, with a handful of new projects to increase production growth. Production will not return to pre-crisis highs, however, due to global overcapacity and steel prices not making substantive gains over 2013. There are no major expansions on the cards, and no major players in either the aluminium or steel industries have announced substantial investment plans.
Figures recorded at the start of 2013 were disappointing. During the first four months of the year, Ukraine registered a 2.5% increase in its finished steel production output, to 9.280mn tonnes, a 0.6% fall in its crude steel output, to 11.058mn tonnes, and a 0.7% rise in its pig iron production to 9.760mn tonnes, according to data issued by Ukraine's Cabinet of Ministers. This does not bode well for the country's near-term outlook and for Ukraine's attempts to hit production targets.
According to Metinvest, overall domestic steel consumption by industrial companies is expected to fall by 3.08% year-on-year (y-o-y) over 2013, to 6.3mn tonnes. Steel consumption among small domestic consumers is expected to remain stable, at 2.6mn tonnes. Metinvest forecasts that Ukrainian industrial steel consumption will increase in 2014, reaching 6.6mn tonnes by year-end.
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