Mechel, one of the leading Russian mining and steel groups, has said that in the fourth quarter of 2009 it saw a recovery of its production volume compared to the same period last year, which, together with the current steady growth of demand, allows its steel division to operate at a 100 percent capacity utilization level.
"If we compare the results of Q4 2008 at the peak moment of the crisis and the results of Q4 2009, the dynamics of the recovery of our production volumes becomes obvious. We increased our coking coal concentrate output by 42 percent, ferrochrome output by 199 percent, steel output by 31 percent, coke output by 58 percent, rolled products output by 36 percent, and hardware output by 45 percent," Mechel's senior vice president Vladimir Polin stated.
"In H2 2009 we boosted production in our mining segment which suffered the hardest attack of the global recession. In spite of the seasonality effect, the growth rate of Q3 continued well into Q4 2009. This process will be completed in 2010 when production volumes at our mining facilities will recover to the pre-crisis level. Moreover, the acquisition of Bluestone coal assets by Mechel will allow us to even exceed those figures," Mr. Polin said.