Metalloinvest, a leading global iron ore and HBI producer based in Russia, has announced its operational results for H1 2011.
In the first half of 2011, Metalloinvest increased its iron ore production by seven percent year on year to 20.2 million mt due to increased mining efficiency and production optimization. Iron ore shipments to third parties rose by 26.2 percent over the same period.
Metalloinvest's pellet production and shipment volumes in the first six months were stable year on year and amounted to 11.2 million mt and 6.9 million mt respectively. Metalloinvest demonstrated a 10.0 percent year-on-year increase in HBI/DRI production in H1 this year to 2.6 million mt and a 17.8 percent increase in shipment volumes which amounted to 1.2 million mt.
Crude steel production and steel product shipment volumes in H1 were down by 3.3 percent and 4.0 percent year on year to 2.9 million mt and 2.6 million mt respectively. A slight decline in crude steel output was due to the increase in the share of high-value-added products in the company's product mix.
In the first half of 2011, Metalloinvest's export of iron ore, pellets and HBI products increased up to 75.5 percent in the consolidated shipments of these products. China was the largest consumer of iron ore, pellets and HBI, accounting for 5.7 million mt of products or 52.0 percent of the company's export shipment volumes.
The company's key clients for iron ore, pellets and HBI products are located in China and other Asian countries, the Middle East, as well as in Europe.
LEAD: Metalloinvest, a leading global iron ore and HBI producer based in Russia, has announced its operational results for H1 2011