Metinvest diversifies feedstock supply to Europe assets: ceo

Metinvest has diversified the supply of semi-finished products for its foreign assets in Italy and Britain, which were left without feedstock from Ukraine due to Russia’s occupation of Mariupol, says the company’s chief executive, Yuri Ryzhenkov.

“They’ve had some disruptions in the beginning, mainly because they were relying on semi-finished goods from Azovstal to run,” Ryzhenkov said on Sky News’ Ian King Live show. “Since then, we’ve diversified the sources of semi-finished goods we are using. For example, here in the UK we have slabs that are being supplied by British Steel now, by Thyssenkrupp. In Italy, it’s ADI. We found various suppliers that can provide us with the necessary volumes.”

Metinvest’s steel plants in Zaporizhzhia and Kamianske are meanwhile running at 50-60% capacity, he added.

According to the ceo, Metinvest expects to receive full compensation from Russia for the damage caused to the company’s assets due to the invasion. The firm plans to “reinvest it in the Ukrainian plants to restore them to operations”, he explained.

Earlier, Ryzhenkov said the company’s EU assets suspended production in May due to the lack of slab previously supplied from Azovstal (see Kallanish passim). They then however ramped up to 75-100% of capacity. Metinvest’s US mine, while remaining part of the group, operates as an autonomous subdivision.

Svetoslav Abrossimov Bulgaria