KYIV, Sept 29 – The current level of electricity prices in Ukraine makes it profitable to smelt steel in outdated and environmentally harmful open-hearth furnaces, and not in environmentally friendly electric steel-making furnaces, Chief Financial Officer (CFO) at Interpipe Wheel and Pipe Company Denys Morozov said.

"I believe that Ukraine needs to deal with CO2 emissions today, because this is a global trend. Here's a paradox: at the current electricity price, it would be more profitable for us to work with open-hearth furnaces that emit significant amounts of CO2 into the air. It would be cheaper. This is the tariff we have today! So, should we start the open-hearth furnace again?" Morozov said in an interview with ExPro publication.