Responding to a world surge in metals prices, Ukraine’s dominant metals industry hiked production

during the first five months of this year, compared to January-May 2020. Ukrmetalurgprom, the producer association, reports: pig iron +9.1%; steel +8.3%; rolled products: +7.9%.

Metinvest, Ukraine’s largest private company saw its EBITDA increase almost four times in the first quarter yoy, to nearly $1.5 billion

. Rising high iron and steel prices, saw revenues in the vertically integrated steel company increase by 43% yoy, to $3.6 billion. In a sign that the world recovery is spreading beyond China, sales to Europe increased by 10% yoy to 1.48 million tons. Prices continued to rise in March, compared to February: +11% for pig iron; +9% for slabs and flat products; +1% for billets.