ISD major shareholder named head of Ukraine’s main steel region

Sergey Taruta, the major shareholder in Ukraine’s Industrial Union of Donbass (ISD), has been appointed head of administration for the Donetsk region, where most of the country’s steel is made.

Paragraph entered by Atlantic migration, in order for SteelFirst articles to display correctly on Metal Bulletin.

Taruta, who holds a 49.99% stake in ISD together with compatriot entrepreneur Oleg Mkrtchan, was appointed to the post by Ukraine’s acting president Olexander Turchinov in a decree posted on the president’s website on Sunday March 2.

The appointment is a part of the Ukrainian interim government’s bid to replace regional leaders loyal to ousted pro-Russian president Viktor Yanukovich.

ISD has its headquarters in Donetsk, while its production assets are in the Lugansk and Dnepropetrovsk regions.

Metinvest, Ukraine’s largest steelmaker, has all its Ukrainian mills in the Donetsk region, while Donetsk Electrometallurgical Plant (DEMZ) and Elektrostal are also based there.

Taruta has called for a peaceful resolution of the stand-off between Russian and Ukrainian troops in the country’s southern Crimea region, as Metinvest owner Rinat Akhmetov did earlier.

Russian president Vladimir Putin, on Tuesday March 4, defended Russia’s alleged right to send troops into Ukraine to protect Russian-speaking compatriots living in “terror”, but said he would only use force as a last resort, Reuters reported.

Putin denied that Russian troops had seized the Crimea region, where armed men, with no insignia but bearing all the characteristics of Russian origins, have taken control of all official buildings and some military bases, Reuters said.

The instability in the region is a problem for ISD, which exports some of its steel products through the Crimean port of Sevastopol, market sources have said.

The steelmaker exports square and round billet, structural steel, slab, plate and hot rolled sheet.

What to read next
Market participants are cautiously optimistic about a rebound in iron ore concentrate premiums, with steelmakers around the world set to ramp-up production in line with an anticipated increase in demand for steel products, Fastmarkets understands
General Motors (GM) is investing $650 million to develop the Thacker Pass mine in Nevada, the largest known source of lithium in the US and the third largest in the world
Electrolysis processes developed by Boston Metal and Electra that eliminate the need for coal in steel production could be key to a net-zero emissions future for the metallics industry, attendees learned at Fastmarkets’ conference on January 17-19 in Dallas
Low supply, strong demand to spur scrap prices higher in Feb, market says
US deep-sea ferrous export prices from the East Coast to Turkey have plateaued, with a Turkish mill purchasing a cargo at prices stable from the last-reported sale
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
Proceed