Metalloinvest’s iron ore output up 0.2 percent in 2018

Thursday, 31 January 2019 17:54:10 (GMT+3)   |   Istanbul

Metalloinvest, a leading global iron ore and hot briquetted iron (HBI) producer based in Russia, has announced its operational results for the fourth quarter and financial year of 2018.

Accordingly, in the given quarter Metalloinvest's iron ore production increased by 3.5 percent quarter on quarter to 10.3 million mt, mainly due a scheduled reduction of maintenance works and an increase in productivity. In the financial year 2018, the company’s iron ore output amounted to 40.4 million mt, increasing by 0.2 percent year on year. Its iron ore shipments in the fourth quarter totaled rose by 45.8 percent quarter on quarter to 2.3 million mt, while it amounted to 7.6 million mt in 2018, decreasing by 27.1 percent year on year.

Metalloinvest's pellet production and shipment volumes in the fourth quarter amounted to 6.9 million mt and 3.5 million mt, down 3.4 percent and 10.5 percent respectively, both compared to the previous quarter. In 2018, the company produced 27.7 million mt, up by 10.2 percent year on year.

In the fourth quarter, Metalloinvest's crude steel production rose by 7.5 percent quarter on quarter to 1.3 million mt, while its pig iron output rose by 0.3 percent to 787,000 mt compared to the third quarter. In 2018, total production of crude steel was 5.05 million mt, growing by 6.2 percent while total pig iron output for the year was three million mt, rising by 2.6 percent, both year on year. 

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