Production of ferroalloys has fallen dramatically in Ukraine
12 February 16:11
In 2024, Ukrainian ferroalloy companies significantly reduced production. The total output fell by 49.4% compared to the previous year, amounting to 108.15 thousand tons instead of 213.59 thousand tons in 2023, according to "Komersant Ukrainian" with reference to nv.ua.
Detailed production statistics show a significant decline for all key products:
- Silicomanganese production decreased by 45%, reaching 104.15 thousand tons.
- Ferromanganese production decreased by 66.5%, amounting to only 3.6 thousand tons.
- Ferrosilicon production (based on a 45% share) fell to 0.12 thousand tons, while in 2023 this figure was 10.49 thousand tons.
- Manganese metal was not produced at all in 2024, although in 2023 its production amounted to 0.03 thousand tons.
- Other ferroalloys were produced in the amount of 0.28 thousand tons, which is significantly less compared to 2.94 thousand tons in 2023.
The situation at mining and processing plants has also deteriorated. Pokrovsky GOK (formerly Ordzhonikidze GOK) and Marhanetsky GOK, both located in Dnipropetrovska oblast, completely stopped production in 2024. For comparison, in 2023, PGOK produced 160.31 thousand tons of manganese concentrate, while MGOK was not in operation.
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Ferroalloys and Privat Group
It is important to note that both mining and processing plants are part of Privat Group, owned by Gennadiy Bogolyubov, Ihor Kolomoisky and Oleksiy Martynov. The group is an unofficial holding company that unites about 100 enterprises.
In late October and early November 2023, they stopped mining and processing crude manganese ore. At the same time, Nikopol and Zaporizhzhia Ferroalloy Plants stopped smelting products. Subsequently, the ferroalloy plants partially resumed operations: ZZF operated at 7% capacity with two furnaces from May 1, 2024, and NFP resumed operations at the end of June 2024.
Additionally, it is worth noting that Privat Group organized the business of Stakhanov Ferroalloy Plant (located in the temporarily uncontrolled territory), NFP and ZFP, MGOK and PGOK. At the same time, Nikopol Ferroalloy Plant is under the joint control of EastOne Group (created in the fall of 2007 as a result of the restructuring of Victor Pinchuk’s Interpipe Group) and Privat Group.
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