Metalloinvest, a leading global iron ore and HBI producer based in Russia, has announced its operational results for the third quarter of 2011.
Accordingly, in the given period, Metalloinvest increased its iron ore production by 6.5 percent year on year to almost 10 million mt, while it decreased by 2.5 percent compare to the previous quarter due to decline in sintering ore output. Iron ore shipments to third parties increased by 47.1 percent year on year over the same period.
Metalloinvest's pellet production and shipment volumes in the third quarter amounted to 5.6 million mt and 3.13 million mt, down 2.8 percent and 12.7 percent respectively, both year on year. Metalloinvest demonstrated a 25 percent year-on-year increase in HBI/DRI production in the third quarter of the current year to 1.28 million mt and a 31.9 percent increase in shipment volumes which amounted to 576,000 mt.
Crude steel production and steel product shipment volumes in the given period were down by 0.7 percent and 1.1 percent year on year to 1.5 million mt and 1.3 million mt respectively.
According to Metalloinvest statement, in the third quarter of 2011, shipments of iron ore, pellets and HBI/DRI to domestic market increased by 42.7 percent on quarterly basis, due to the growth in deliveries to main Russian steelmakers such as NLMK and MMK based on long-term contracts.
China was the largest consumer of iron ore, pellets and HBI, accounting for almost 50 percent of the company's export shipment volumes.