Metinvest B.V., the parent company of the vertically integrated group of metals and mining companies (Metinvest), on Friday announced the results of operating activities for the 4th quarter and 12 months ended December 31, 2020.
According to published data, the company's metallurgical plants in 2020 increased steel production by 9% compared to 2019 - up to 8.268 million tons, pig iron - by 7%, to 8.475 million tons, total coke production - by 3%, up to 4.808 million tons.
Steel production at Metinvest increased mainly due to an increase in production at the Mariupol Illich Iron and Steel Works (MMKI) by 512 thousand tons due to the redistribution of pig iron in favor of steel production. The increase in production at Azovstal by 178 thousand tons was caused by an increase in pig iron production as a result of the launch of high-performance blast furnace No. 3 after overhaul with modernization in June 2019, as well as the planned overhaul of blast furnace No. 2 in the 4th quarter of 2019.
Metinvest reported that in 2020 the production of finished metal products increased by 4% compared to the previous year - to 5.833 million tons.
Production of flat products increased by 132 thousand tonnes - to 4.809 million tonnes - mainly due to an increase in hot-rolled coil production due to the launch of mill 1700 at MMK after reconstruction and the presence of stable market demand for this product, as well as an increase production of cold-rolled steel due to an increase in the order book, which fully compensated for the decrease in production of hot-rolled plate.
Production of long products increased by 80 thousand tons - to 794 thousand tons - mainly due to an increase in the portfolio of orders for rebar, including the production of rail products increased by 30 thousand tons - up to 79 thousand tons - against the background increase in orders from Ukrainian railways. The production of tubular products decreased by 4 thousand tons - to 151 thousand tons.
As reported, Metinvest increased steel production in 2019 by 3% compared to 2018 - to 7.578 million tons, while reducing pig iron output also by 3% - to 7.928 million tons, and total coke production - by 11% , up to 4.667 million tons.
Metinvest is a vertically integrated mining group of companies that manages assets at every link in the production chain from iron ore and coal mining and coke production to the production of semi-finished products and finished products from steel, rolled pipes and coils, as well as the production of other products with high added value. The group consists of mining and metallurgical enterprises located in Ukraine, Europe and the USA, has a sales network covering all key world markets.
The main shareholders of Metinvest are Rinat Akhmetov's SCM Group (71.24%) and Vadim Novinsky's Smart Holding (23.76%), jointly managing the company.
