Ukraine steel output rises 1% so far in 2025, producers union says
KYIV, May 9 (Reuters) - Ukraine maintained steel production growth in the first four months of 2025 despite the loss of the coking coal mine in Pokrovsk in the eastern part of the country, data from the Ukrainian steel producers' union showed on Friday.
Ukrainian steelmaker Metinvest suspended operations at Ukraine's only coking coal mine, citing a deteriorating security situation as Russian forces advanced.
Raw steel output rose by 1% in January-April to 2.43 million metric tons from 2.40 million in the same period of 2024, the data showed.
Steel production has suffered since Russia's invasion in February 2022, which has led to the destruction of leading steel plants.
Ukraine, formerly a major steel producer and exporter, reported a 70.7% drop in output in 2022 to 6.3 million tons. It fell to 6 million tons in 2023 but increased to 7.58 million in 2024.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
an hour ago
- Reuters
Ukraine, Poland to boost capacity of gas interconnector to 12.4 million сubic metres
KYIV, June 13 (Reuters) - Gas transmission system operators of Poland and Ukraine will double the transmission capacity of its interconnector to 12.4 million cubic metres of gas a day from the current 6.4 million, Ukraine's Energy Ministry said on Friday. "The Polish route is one of the most important gas import destinations for Ukraine. Its role will only grow, as Poland's gas transmission system provides access to diversified sources of natural gas, including liquefied gas from around the world," it said on the Telegram messenger. The ministry noted that in order to ensure stable capacity, the Polish company Gaz-System would carry out the reconstruction of the Hermanowice gas metering station. Gaz-System told Reuters this spring that the upgrade of the Hermanowice station would be ready at the end of 2025 or early 2026 and could cost 8 million zloty ($2.12 million). Ukraine has said it wants to import large volumes of U.S. LNG via Germany, Greece, Lithuania and Poland ahead of the heating season, after Russian shelling left the country with storage almost empty. Naftogaz, Ukraine's state energy firm, and Polish refiner Orlen have agreed to cooperate in the LNG sector. Naftogaz has already bought 300 million cubic metres (mcm) of LNG from Orlen.
BBC News
an hour ago
- BBC News
Oil prices: How the higher cost of crude could affect you
Israel's strikes on Iran, and Iran's response, caused a shudder on global financial markets on price of oil surged in particular, jumping by about 10% at one has prompted worries that we could be facing another period of sharply higher energy prices, leading to a bout of higher prices for everything from petrol and food to holidays. That is what happened after Russia invaded Ukraine three years ago, affecting people's lives around the globe. How much have oil prices risen? The attacks prompted an instant reaction on the markets. Brent Crude - the main international benchmark - rose more than 10% before falling back to around $75 a price of oil rises and falls all the time in response to big geopolitical events, and the state of the global economy, so it is not a surprise to see oil prices reacting to the the Brent crude price is still about 10% lower than a year is also well below the peaks seen in 2022 following Russia's invasion of Ukraine, when it spiked to nearly $130. So will petrol and other prices go up? When the wholesale oil price goes up, many people notice it first when it leads to higher petrol prices. But more expensive energy also feeds through to higher prices for almost everything, from farming to that will only happen if energy prices stay high for a sustained with petrol and diesel, rising crude prices only have a limited impact."A rough rule of thumb is a $10 rise in the oil price would add about 7p to the price at the pump," says David Oxley at Capital this is not just an oil story, he will remember the shock to prices that followed the beginning of the Ukraine conflict. That was in large part a response to higher gas prices, Mr Oxley of us heat our homes with gas, and in the UK electricity prices are also set in relation to the gas prices have also risen after last night's attacks. But the impact will feed through to households only slowly, if at all, says Mr Oxley, given the way the market works, including the role of the regulator, in capping prices. Could oil prices rise higher? The current situation is "very significant and concerning" says Richard Bronze head of geopolitics, global market consultancy, research firm, Energy that doesn't mean it will turn out to have as big an impact as the Ukraine conflict, or even previous troubles in the Middle main questions are how long Israel and Iran remain locked in this conflict, whether other countries in the region are drawn in, and whether the US steps in to de-escalate the all it depends on whether we see actual disruption to shipping in the Strait of Hormuz, the waterway off Iran's southern coast, which is the route to global markets for about a fifth of the world's oil production."It's a narrow choke point so it is a significant weak spot for global oil markets," says Mr Bronze. That remains an unlikely scenario, but Iran has threatened it in the past and it is now marginally more likely than it was 24 hours ago. And that outside risk is part of what is driving up prices, he interruption to shipping, oil prices are not likely to stay high. In 2022, following Russia's invasion of Ukraine, there was growing demand for energy as the global economy reopened after the global economy is facing tougher times, and oil producers from Saudi Arabia to Brazil have the capacity to increase oil supply which would help lower prices. What does it mean for the global economy? The scale of any energy price rises, and the wider impact, will depends on the magnitude of what comes next in the conflict between Israel and Iran. But it does have the potential to be "a bad shock for the global economy at a bad time" says Mohammed El-Erian, chief economic adviser at asset manager Allianz. "Whichever way you look at it, it's negative short-term, it's negative longer-term."It's another shock to the stability of the US-led global economic order at a time when there were already a lot of questions."Capital Economics calculates that if oil prices were to return to over $100 a barrel that could add 1% to inflation in advanced economies, making life difficult for central banks hoping to bring down interest that's not the most likely scenario in David Oxley's view."Instability in the Middle East is nothing new, we've seen numerous bouts of it," he says. "In a week's time it might have all blown over."
Telegraph
8 hours ago
- Telegraph
Nato drafts one-page communiqué to suit Trump's attention span
Donald Trump will be handed a one-page communiqué to sign off at a Nato leaders' summit, in an effort to avoid sparking a row between Europe and the US president, The Telegraph can disclose. The simplified statement will likely only contain around five or six paragraphs, detailing how the Western military alliance will meet Mr Trump's demand to increase defence spending to 5 per cent of GDP. The summit in The Hague will also be modelled on a similar leaders gathering in London in 2019, which was deliberately kept short because of the president's attention span. The one-page communiqué will be almost entirely focused on the historic decision to more than double spending on defence by leaders to meet new capability targets for deterring a Russian invasion. The Telegraph understands the document will brand Russia as a 'threat' to Nato, as well as offer a nod to the alliance's support for war-torn Ukraine. But it will strip out any mention of Kyiv's 'irreversible' path to membership, and remove any mention of climate change posing a 'defining challenge' to member states. Also, there will unlikely be any language accusing China of being a ' decisive enabler ' of Russia's war against Ukraine. One alliance source said it would be 'focused on the core issues at hand'. It will be a stark contrast to previous statements issued by Nato leaders after their set-piece annual summit. At the 2023 summit in Vilnius, Lithuania, the declaration contained 90 paragraphs. A year later, in Washington, leaders signed off on 44 lines of text, including statements on climate change, Ukraine, Russia, terrorism and the defence industry. A senior Nato diplomat said: 'We're going to go even shorter this time. A single sheet of paper and it should be five paragraphs long.' The conciseness of the statement is purely designed to prevent rows from breaking out between Mr Trump and his counterparts in Canada and Europe. European leaders have been barred from bringing up the issue of trade tariffs, in a further bid to maintain harmony with the president. The White House chief is known for preferring short, sharp briefings, with his aides deliberately keeping their memos to a single page of A4. Crackdown on leaking A Nato source said the drafting process for the annual communiqué of Nato countries had been changed this year by Mark Rutte, the alliance's secretary-general, to make it more secure. Usually, the document leaks to the media in the final hours of negotiations between member states as the various commitments are agreed by deputy ambassadors and their staff. But sources close to Nato HQ said Mr Rutte had restricted the distribution list of the communiqué only to ambassadors, in an attempt to prevent it from leaking. The secretary-general has also cracked down on the 'Christmas tree' approach taken by member states in previous years, when national governments attach their own priorities to the communiqué. One example given was Spain's insistence at previous summits that the Mediterranean was listed as a key strategic region for Nato. The Dutch organisers of The Hague summit will also roll out the red carpet for the US president in the hope it keeps him sweet. There will be a working session solely on defence spending, with leaders huddled around the table. Mr Trump, a fan of royals, will also be given the opportunity to meet King Willem-Alexander at a dinner hosted by the Dutch monarch the night before the summit. Interactions between the US president and Volodymyr Zelensky, the Ukrainian president, will also be limited, because of the risk of a public bust-up. A meeting of the Nato-Ukraine Council, the official body established in Washington, will be held by foreign ministers. There also won't be any meetings of the Ukraine Defence Contact Group, which coordinates Western military aid to Kyiv, or the ' coalition of the willing ', the Anglo-French initiative to police any ceasefire.
