Steel production growth at Metinvest plants in the first quarter amounted to 30%
The Dutch company Metinvest BV, the parent company of a vertically integrated group of mining and metallurgical companies (Metinvest) with assets in Ukraine, the EU and other countries, sharply increased the production of iron and steel in early 2020 due to the growth in market demand before the start of the pandemic .
In the 1st quarter of 2020, pig iron production increased by 11% compared to the previous quarter and by 7% compared to the same period last year (APPG) - up to 2,090 thousand tons. Steel production in the 1st quarter of 2020 increased by 30% qoq and 12% qoq to 2,170 thousand tonnes due to an increase in pig iron production. Production of finished goods increased by 38% in relation to the previous quarter and by 4% in relation to the APPG - up to 1,567 thousand tons.
Total production of iron ore concentrate (iron ore concentrate) in the 1st quarter increased by 6% compared to the same period last year - to 7.606 million tons and increased the total production of coking coal concentrate - by 25%, to 842 thousand tons. At the same time, the production of pellets decreased by 23% compared to the same period, but increased compared to the previous quarter by 36% - to 1.526 million tonnes.
In January-March 2020, the production of salable iron ore products increased by 11% compared to the same period in 2019 due to an increase in the production of salable concentrate by 39% due to an increase in the production of total concentrate. At the same time, the production of commercial pellets decreased by 23% due to the optimization of the order portfolio.
In addition, in the first quarter of 2020, the production of coal concentrate at the mines of the United Coal Company increased by 8% compared to the previous quarter - to 842 thousand tons due to improved mining and geological conditions. At the same time, the production of coal concentrate increased by 25% y-o-y due to the launch of new production sites in 2019.
As reported, by the end of 2019, Metinvest increased the total production of iron ore concentrate (iron ore concentrate) by 6% compared to 2018 - up to 29.028 million tonnes, the total output of coking coal concentrate - by 10%, to 2.961 million tonnes, but reduced pellets by 7% to 6.951 million tonnes.
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 United States, 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.
LLC "Metinvest Holding " - the management company of the "Metinvest " group.