Metinvest Group

What Metinvest Group does

Metinvest Group is a vertically integrated international steel and mining company founded in 2006, operating under Dutch parent Metinvest B.V. (Amsterdam) and owned by Ukrainian billionaire Rinat Akhmetov through System Capital Management (SCM Group). The group controls iron ore mining assets (Inhulets, Northern, and Central Iron Ore), coal mining (United Coal Company in the United States), coking operations (Avdiivka and Zaporizhia Coke), and steelmaking facilities (Azovstal, Ilyich, Kamet Steel, Zaporizhstal) in Ukraine, complemented by European assets including Promet Steel (Bulgaria), Ferriera Valsider and Metinvest Trametal (Italy), Spartan UK, and Metinvest Polska (Katowice). In December 2025 the group acquired ArcelorMittal Tubular Products Iași in Romania, adding 240,000 tonnes of annual small-diameter welded-pipe capacity. The portfolio spans more than 1,000 steel product types — plates, coils, sheets, galvanized and color-coated steel, long products (rebar, wire rod, sections, rails), electric-welded pipes and profiles, semi-finished products (pig iron, slabs, iron ore concentrate), and coke — with 11 million tonnes of iron ore concentrate produced in 2023 and shipments to customers in 70+ countries.

Revenue is generated through direct enterprise sales of steel and mining products to industrial customers in construction, energy, transportation, shipbuilding, machine building, and pipemaking, supplemented by a trading/distribution operation (Metinvest-SMC, Ukraine's largest steel trader) that compensates for war-related Mariupol capacity loss by importing from European assets and third-party suppliers (Turkey, Italy, Romania, Slovakia, Bulgaria, Poland, China). Pricing is quote-based and negotiated with industrial buyers under multi-year contracts, with a fast-order inquiry system on the corporate website and over 40 representative offices worldwide backing a field-sales go-to-market. The company is currently executing a green-steel pivot through a DR pellet production program at Northern Iron Ore (target: 4 million tonnes annually at 70.8% iron content) with Primetals Technologies and Metso, and in 2025 launched 11 new metal product types targeting increased European demand.

The business has been significantly impacted by Russia's invasion of Ukraine — including damage to the Azovstal plant in Mariupol — yet continues operating, reportedly as Ukraine's largest private taxpayer. Metinvest is privately held, with no public listing, and has been financing operations and capex through ECA-backed loans (€23.6 million Deutsche Bank/Finnvera facility, July 2025), BSTDB facilities, and a $428 million bond redemption funded with internal cash in April 2026 ahead of roadshows with Deutsche Bank and Morgan Stanley for a potential return to the international bond market.

Name

Metinvest Group

Legal name

Metinvest B.V.

Website

https://metinvestholding.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

251–500 employees

Short description

Metinvest Group is a vertically integrated international steel and mining company founded in 2006, operating iron ore mines, coal mines, and steelmaking assets across Ukraine, Europe, and North America to serve construction, energy, transportation, shipbuilding, and industrial customers in 70+ countries.

Ownership category

akta.pro rank

Product category

Steel Manufacturing

NAICS

Iron and Steel Mills and Ferroalloy Manufacturing (331110), Iron Ore Mining (212210), Steel Product Manufacturing from Purchased Steel (3312)

SIC

Steel Works, Blast Furnaces & Rolling & Finishing Mills (3310), Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens) (3312), Metal Mining (1000)

akta.pro primary industry

Integrated Steelmaking (BF-BOF) (IMAKABAA)

akta.pro secondary industries

Hot Rolling & Primary Mills (Plate, Hot-Rolled Coil/Sheet, Strip) (IMAKABAE), Long Products Manufacturing (Rebar, Wire Rod, Merchant Bar, Sections/Beams) (IMAKABAH), Steel Products Trading & Service Centers (Flat, Long, Pipe & Tube, Rebar) (IMAKAJAB)

Keywords

• Steel manufacturing
• Iron ore mining
• Steel products distribution
• Coking coal production
• Metal products trading

Headquarters

HQ city

Mariupol

HQ country

Ukraine

HQ region

Europe

Offices12 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D

Revenue model

1. Steel and Mining Products: Metinvest generates revenue through the production and sale of steel products (plates, coils, sheets, long products, pipes, semi-finished products) and mining products (iron ore concentrate, coal, coke). The company operates a vertically integrated model from mining to steelmaking, serving industrial customers across 70+ countries. Revenue streams include both commodity products (pig iron, slabs, rebar, coils) and higher-value specialized products (high-strength steel, boiler/pressure vessel steel, shipbuilding plate, steel for large-diameter pipes and offshore structures).
2. Steel Trading and Distribution: Metinvest-SMC serves as Ukraine's largest steel trader, distributing steel products through a nationwide network of Service Metal Centers. The trading operation compensates for lost Mariupol production by importing from European assets and third-party suppliers.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Metinvest Group operates a vertically integrated steel and mining business encompassing iron ore mining and processing, coal mining, coking, and steelmaking across Europe and North America. The company produces steel plates, hot-rolled and cold-rolled coils and sheets, galvanized and color-coated steel, long products (rebar, wire rod, I-beams, channels, rails), electric-welded pipes and profiles, semi-finished products (pig iron, slabs, iron ore concentrate), and coke and by-products, supplying industrial customers in construction, energy, transportation, shipbuilding, and machine building across more than 70 countries.

Product overview

Metinvest Group is an international vertically integrated steel and mining company with operations in Europe and North America. The company operates a vertically integrated business model combining iron ore mining (Inhulets Iron Ore, Northern Iron Ore, Central Iron Ore), coal mining (United Coal Company), and steelmaking assets. Metallurgical operations include Azovstal Iron and Steel Work, Ilyich Iron and Steel Works, Kamet Steel, and Zaporizhstal JV in Ukraine, along with European assets Promet Steel (Bulgaria), Ferriera Valsider and Metinvest Trametal (Italy), and Spartan UK. In December 2025, Metinvest acquired ArcelorMittal Tubular Products Iași in Romania, a pipe plant with 240,000 tonnes annual capacity. The company produces a comprehensive portfolio of over 1,000 steel products including plates, coils, sheets, pipes, long products (rebar, wire rod, sections), and semi-finished products. Sales are conducted through the Metinvest SMC distribution network in Ukraine, Metinvest International in Geneva, and Metinvest Polska. Supporting operations include Metinvest-Shipping for logistics, Metinvest Digital for IT services, and Metinvest Business Service for shared services. In 2025, the company launched 11 new metal product types targeting increased European market demand, with Zaporizhstal alone introducing three new flat rolled products. The company is investing in green steel production through DR pellet capacity expansion at Northern Iron Ore targeting 4 million tonnes annually, with a €23.6 million Finnvera-backed loan secured in July 2025.

Differentiator

Problem solved

Functional benefit

Products and services

• Steel Plates Steel plates including high strength steel, structural and general use steel, boiler and pressure vessel steel, machine building steel, steel for large-diameter pipes, offshore structures, energy applications, and shipbuilding plate, sold to industrial buyers in energy, shipbuilding, construction, and heavy industry.
• Steel Coils Cold-rolled coils, hot-rolled steel coils, galvanised steel coils, and colour-coated rolled steel sold to manufacturers and construction firms for further processing and end-product fabrication.
• Steel Sheets Cold-rolled steel sheets, hot-rolled steel sheets, and galvanised sheets sold for manufacturing, construction, and industrial applications.
• Electric-Welded Pipes and Profiles Small-diameter welded pipes and roll-formed sections, produced by Metinvest Tubular Iași (240,000 t annual capacity), serving construction, infrastructure, and industrial pipe applications.
• Long Products Rebar, wire rod, angles, I-beams, channels, rails and rail fastenings, special profiles, grinding balls, steel square bars, and steel round bars sold to construction, infrastructure, and industrial customers.
• Semi-Finished Products Pig iron, slabs, and iron ore concentrate supplied as raw and semi-finished inputs for downstream steelmaking operations across the group and to external customers.
• Coke and By-Products Metallurgical coke and chemical by-products from coke production, supplied to the steel industry and other industrial customers.
• Metinvest-SMC Steel Distribution Service Steel trading and distribution service through a nationwide network of Service Metal Centers across Ukraine, distributing Metinvest-produced and imported steel products to Ukrainian customers.
• Metinvest Tubular Iași Small-Diameter Welded Pipes Small-diameter welded pipes produced at the Metinvest Tubular Iași plant in Romania with 240,000 tonnes annual capacity, acquired from ArcelorMittal in December 2025, serving construction, infrastructure, and industrial pipe customers in Europe.
• 11 New Metal Product Types (2025 Launch) New metal product grades launched in 2025 across semi-finished, long, and flat product segments from Kametstal, Zaporizhstal, and Promet Steel, targeted at increased European market demand.
• Zaporizhstal Three New Flat Rolled Products Three new types of flat rolled products (two hot-rolled and one cold-rolled) launched in 2025 from the Zaporizhstal metallurgical plant, with shipments to Poland, Slovakia, and Moldova.
• DR (Direct Reduction) Pellets Direct Reduction (DR) iron ore pellets with approximately 70.8% iron content and reduced silica/alumina impurities, produced at the Northern Iron Ore facility, targeting approximately 4 million tonnes annual output for green steel and decarbonized metallurgy applications.

Quantifiable outcome

• 433 new steel product types mastered over more than a decade of conflict, including 11 new types launched in 2025
• +4 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Seven partnerships are on record, tiered minor and core.

• CRU, MEPS International, Crowe UKminorGTM or Marketing Partner · 6 April 2026Metinvest is a confirmed speaker at the Future of Green Steel 2026 conference in London alongside CRU, MEPS International, and Crowe UK. The event focuses on commercial, technological, and regulatory dimensions of low-carbon and green steel production, with previous editions featuring ArcelorMittal, H2 Green Steel, Renault, and GFG Alliance.
• Ukrainian and Romanian Governments (Strategic Partnership)coreStrategic or Co-development Partner · 12 March 2026President Volodymyr Zelenskyy and Romanian President Nicușor Dan signed a Strategic Partnership Declaration in Bucharest covering defense, energy, and economic ties. Ukrainian companies DTEK and Metinvest are expanding investment in Romania's renewables and metals sectors. A joint drone-production project in Romania is financed through the SAFE program with around €200 million allocation.
• Flacks Group (UK)minorStrategic or Co-development Partner · 9 March 2026Flacks Group, controlled by billionaire Michael Flacks, is pursuing acquisition of the former Ilva steel complex in Taranto, Italy. Metinvest has been cited as a possible operational partner for the deal, which involves potential industrial partnership with entities including Danieli, Marcegaglia, and Invitalia.
• Metso (Finland)coreTechnology or Integration · 13 February 2026Metinvest signed an agreement with global technology supplier Metso to develop basic engineering for a flotation concentration complex at its Northern Iron Ore facility. The project aims to increase iron content to 70.8% and reduce silicon and aluminum oxide impurities to 2%.
• ArcelorMittal Tubular Products Holding B.V.coreOthers · 17 December 2025Metinvest B.V. acquired a majority stake in ArcelorMittal Tubular Products Iași, Romania from ArcelorMittal Tubular Products Holding B.V. Transaction involved legal support across multiple jurisdictions (Ukraine, Romania, Luxembourg, and France). The plant produces small-diameter welded pipes with 240,000 tonnes annual capacity.
• Primetals Technologies (Austria)coreTechnology or Integration · 1 December 2025Metinvest signed a contract with Austria-based Primetals Technologies for basic engineering as the first stage of modernizing DR pellet production at the Northern Mining and Processing Plant. The project includes construction of a flotation upgrading complex and reconstruction of the LURGI 552-A pelletizing machine, targeting completion by end of 2026.
• Liberty Galati (Romania)minorStrategic or Co-development Partner · 31 October 2025Romania's government, main creditor of Liberty Galati steel mill, agreed to sell the company's core assets separately. Metinvest (controlled by Rinat Akhmetov) was cited as a potential buyer alongside India's Jindal and Romanian contractor Dorinel Umbrărescu. Liberty Galati entered preventive arrangement with total debts of EUR 1.2 billion.

Scale indicators12 records

Recent moves8 records

Expansion highlights7 records

Direct peers

• ArcelorMittal: World's largest integrated steelmaker with similar blast-furnace-to-finished-product value chain. Directly comparable to Metinvest as a multi-jurisdiction, multi-product integrated producer; Metinvest acquired ArcelorMittal's Romanian tubular plant in December 2025.
• thyssenkrupp Steel Europe: Major European integrated flat steel producer with similar product mix (plates, hot-rolled and cold-rolled coils) and EU customer base. Comparable in scale and product portfolio to Metinvest's European assets.
• Voestalpine: Austrian integrated steelmaker with broad product portfolio across plates, sections, and specialty grades. Comparable to Metinvest as a European integrated producer serving industrial customers in energy, automotive, and infrastructure.
• SSAB: Nordic integrated steelmaker with explicit green steel transition strategy and similar high-strength steel grades. Closest peer to Metinvest's DR pellet investment and decarbonization roadmap.
• Tata Steel: Vertically integrated steel producer with iron ore mining, coking, and steelmaking across India and Europe. Comparable to Metinvest in vertical integration depth and broad product portfolio.
• JSW Steel: Indian integrated steelmaker with global ambitions and product portfolio spanning flat and long products. Comparable to Metinvest in vertical integration and emerging-market steel positioning.
• Cleveland-Cliffs: Largest flat-rolled steel producer in North America with iron ore mining, steelmaking, and finishing. Comparable to Metinvest in vertical integration and downstream automotive/energy customer focus.
• U.S. Steel: Integrated U.S. steelmaker with iron ore, coke, and steelmaking operations producing flat-rolled and tubular products. Comparable to Metinvest in integrated production model and tubular products (relevant post Iași acquisition).
• Nucor: Largest U.S. steel producer using EAF and integrated methods with broad product portfolio. Comparable to Metinvest as a large diversified steel producer serving construction and infrastructure end-markets.
• POSCO: Korean integrated steelmaker with global operations, iron ore investments, and a broad product portfolio including green steel initiatives. Comparable to Metinvest as a globally active integrated steel and raw materials producer.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/metinvest_group
• YouTubeyoutube.com/user/Metinvestholding
• Facebookfacebook.com/metinvest
• LinkedInlinkedin.com/company/metinvest
• Instagraminstagram.com/metinvest

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries26 records

Funding overview

Funding rounds4 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Metinvest Group