Russian pig iron and coking coal producer Industrial Metallurgical Holding (KOKS Group) has announced its operational results for the first nine months of the current year.
Accordingly, IMH (KOKS Group) produced 1.68 million mt of pig iron in the first nine months of this year, increasing by 11 percent year on year.
In the January-September period this year, the company's coal output decreased by seven percent to 1.44 million mt, while its iron ore output amounted to 3.7 million mt, remaining almost stable, both year on year.
Meanwhile, in the given period, the company's coke output increased by three percent to 2.12 million mt compared to the same period of the previous year.
According to IMH, prices for the company’s end-products in the global market have been rallying since the beginning of the current year after a serious drawdown a year earlier. Quotes of metallurgical coke since January this year have increased more than threefold and pig iron prices have risen by 60 percent. This will be reflected in IMH’s financial statements for the second half of the year and for the full year of 2016 to the delight of its investors and creditors. In addition, these price tendencies positively affect the liquidity position of the company.