According to statistics, Ukrainian steel manufacturer Elektrostal’s billet output totaled around 83,000 tons in 2019, plummeting by 3.5 times compared to the previous year. The obvious reduction in output was due to poor market conditions and severe competition.

It was understood that Electrostal suspended its production from January to March last year since scrap prices rose, leading to high costs for steel mill costs, and the billet prices were relatively not competitive compared to other blast furnace producers in the Commonwealth of Independent States (CIS) countries.

Electrostal resumed its production after March, with only 1/3 of the capacity utilization rate. The firm’s facility was idled again in October, and the output in the previous quarter was pretty small.