Koks’ pig iron output slightly increases in Q1

Russian pig iron and coking coal producer Koks Group has announced it operational results for the first quarter of 2013.
 
During the first quarter, Koks produced 537,000 mt of pig iron, up one percent compared to the corresponding quarter of the previous year. In the given quarter, the company's coking coal output increased by 17 percent year on year to 397,000 mt, in line with its strategy to increase self-sufficiency in raw materials, while its iron ore output amounted to 1.2 million mt, decreasing by one percent year on year. In the first quarter, its coke output increased by 11 percent to 637,000 mt compared to the first quarter of 2012.
 
Koks expects to extract around 2 million mt of coking coal by the end of 2013. Merchant pig iron production is expected to be slightly above 2 million mt, while coke production should reach 2.5 million mt by the end of the year. Koks stated that it carefully monitors market fluctuations and is ready to adjust these plans according to customers' needs.