Mechel releases nine-month production figures

Mechel releases nine-month production figures

Russian steelmaker Mechel announced on Friday that its nine-month crude steel production figures indicated a three percent year-on-year decline to 4.42 million metric tons. The 27 percent year-on-year increase in semi-finished production, to 1.362 million metric tons, was tempered by declines in output of long products and flat products. Long product output declined seven percent year on year to 1.876 million metric tons, while flat product output was down 21 percent to 212’000 metric tons. In the first three quarters of 2005, the company produced 1.963 million metric tons of coke, down 11 percent year on year. Pig iron output declined ten percent to 2.275 million metric tons. Coking coal output was recorded as 6.472 million metric tons, indicating a decline of five percent against the first nine months of the previous year. One bright spot for the company’s mining business was its iron ore output, which was up 20 percent year on year at 3.374 million metric tons. 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.