The aim of the study is to identify risks and challenges that may be a threat to the development of the mining and metallurgical complex of Ukraine (MMC). It is shown that the excess steel-making capacity in the world increases the risks of the steel producers, may lead to an excess of offers, trade disputes; low prices and low yield. It is noted that the Ukrainian ferrous metallurgy works in the harsh conditions of the world market, the hallmark of which is the uncontrolled and unpredictable

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... owth of world prices. This leads to unstable operation of the MMC, especially in recent years. The factors that determine the potential risks in the metallurgical sector of Ukraine are given. The most influential risk factors include the following: threats to the impact of environmental factors on the future; threats of influence of the political situation in the world; the instability of the supply of raw materials and prices for finished products; change in existing trade flows of raw materials and finished products; global trade restrictions; the lag of the technical level of metallurgical production from the world; insufficient state influence on the industry; lack of industrial development strategy of Ukraine and the metallurgical industry. It is shown that the main direction of the target setting for the development of Ukrainian metallurgy in the medium term should be the development of a strategy that binds together raw materials, energy potential, steelmaking equipment, casting and rolling technologies, as well as the state and market prospects.