Since the beginning of the war, Metinvest Group has restructured its logistics and shifted focus to new markets, including Scandinavian countries. In a recent interview with FAQ Talks, Dmytro Nikolaienko, Commercial Director of Metinvest, revealed that the company has begun supplying iron ore to SSAB, a leading Swedish steelmaker, for its plant in Finland.
“While Europe remains our primary market, with many consumers in Eastern Europe, we have successfully found new buyers for our iron ore during the war. For example, we now supply SSAB, shipping ore to their Finnish plant via Polish ports,” Nikolaienko stated. He added that SSAB has become a long-term client, with supplies secured under annual contracts.
SSAB is one of Europe’s largest steel producers, specializing in high-strength steel and operating in over 40 countries. The company, headquartered in Stockholm, produces more than 8 million tonnes of steel annually.
Metinvest’s mining segment saw a 39% increase in export revenue last year, reaching 2.5billion, with physical exports surging by 73, nearly $3.9 billion of which came from Metinvest and Zaporizhstal. The company now supplies iron ore, flat steel, and semi-finished products to 51 countries, including newly entered markets like India, Sweden, and Norway.
Metinvest also remains the largest taxpayer in Ukraine’s steel industry, contributing UAH 19.8 billion (61% of the sector’s total taxes) to state budgets in 2024.
