Metalloinvest, a leading global iron ore and HBI (hot briquetted iron) producer based in Russia, has announced its operational results for the fourth quarter of 2011.
Accordingly, in the given period Metalloinvest increased its iron ore output by 0.2 percent quarter on quarter to 10 million mt, while in 2011 its iron ore output increased by nine percent to 40.1 million mt compared to 2010. Iron ore shipments to third parties increased by 30 percent year on year in 2011.
Metalloinvest's pellet production and shipment volumes in the third quarter amounted to 5.6 million mt and 3.6 million mt, up 0.3 percent and 5.1 percent respectively, both year on year. In 2011, Metalloinvest indicated a 9.5 percent year-on-year increase in HBI/DRI (direct reduced iron) production to 5.1 million mt and a 10.7 percent increase in shipment volumes which amounted to 569,000 mt.
Crude steel production and steel product shipment volumes in the fourth quarter were down by 5.1 percent and 3.9 percent year on year to 1.4 million mt and 1.31 million mt respectively.
According to Metalloinvest's statement, Russia (31 percent) and China (35 percent) were the largest consumer of its iron ore in 2011, while deliveries to eastern and western Europe, the Middle East and Asia accounted for a significant share of shipments.