Mechel announces H1 operational results

Mechel announces H1 operational results

Russian steelmaker Mechel announced on Friday that it increased its steel production by 2 percent to 3'088'000 tons in the first half of 2005 against the corresponding period of previous year. Likewise, the mill raised its rolled products output by 2 percent to 2'423'000 tons in the subject six-month period against the first half of 2004. In the first half of 2005, the company produced 1'360'000 tons of coke, down 7 percent from the first half of 2004, while the pig iron output declined by 1 percent to 1'844'000 tons in the first half of 2005. Coking coal output was recorded as 4'134'000 tons, indicating a decline of 1.5 percent against the first half of previous year. Coal production of the company in the six-month period was recorded as 7'525'000 tons, up 3 percent against the first half of 2004. Mechel is the largest producer of specialty steels and alloys in Russia, producing 52% of total Russian specialty steel output. Mechel is also the second largest producer of long products in Russia.