Russian missiles sent Ukraine's metallurgical and mining industries to the bottom
The metallurgical and mining industries of Ukraine, which brought in considerable foreign exchange earnings, became the most affected sectors of the economy after the outbreak of the war.
This was reported by the PolitNavigator correspondent and written by Ekonomicheskaya Pravda, a subsidiary portal of the anti-Russian propaganda website Ukrainskaya Pravda.
“Metallurgy, which until February 24 was the second largest item of Ukrainian export, suffered the most from the fighting. In addition, products traditionally transported by sea are still forced to be transported by land, which not only slows down the process, but also increases the price of the goods several times,” the publication writes.
Referring to data from the Ukrmetallurgprom association, it is indicated that from February to November, steel, rolled products and cast iron were produced on average 70% less than during the same period in 2021.
The problems of metallurgical and mining enterprises have worsened after attacks on energy infrastructure. Thus, the Metinvest company, owned by oligarch Rinat Akhmetov, said that in November they had to emergency shut down its capacity due to a lack of electricity. And the mining and processing plant in Krivoy Rog suspended the operation of drilling rigs and processing complexes.
At the same time, Metinvest complains that alternative generation on the scale of large metallurgical production cannot be built in a few months or even a year, and therefore the consequences of shutdowns for the sector will be serious.
After the first blackout in the history of Ukraine on November 23, when all nuclear power plants operating in the country were switched off, the industrial giant ArcelorMittal Krivoy Rog, formerly known as Krivorozhstal, stopped. Now the company says that in December the plant's capacity was only 20% loaded.
In an attempt to minimize losses, enterprises are trying to switch to night shifts.
“Metinvest enterprises also use industrial generators. However, as the group explains, this only allows one to avoid emergency situations and emergency shutdowns and stop the equipment,” clarifies EP.
Russian missiles have sent Ukraine's metallurgical and mining industries to the bottom.