Ukraine metallurgical industry recovers from recession in 2016

Ukraine's metallurgical industry has recovered from a two-year recession in 2016, with key branches showing a slight growth, an association of metallurgical companies "Ukrmetallurgprom" said in a report on Tuesday.

In particular, Ukraine boosted its steel production by 5.5 percent to 24.2 million tons and pig iron output by 7.8 percent to 23.6 million tons last year, the report said.

The production of rolled metal products was up by 6.4 percent, it said.

Ukraine's metallurgical industry, which generates more than 20 percent of the country's exports revenues, plunged into recession in 2014. The sluggish global demand and the conflict in eastern regions, Ukraine's industrial heartland, were behind the metallurgical industry crisis. Endit