Ukraine-headquartered mining and steel producing group Metinvest has announced its operational results for the first quarter this year.
Accordingly, the company managed to increase its crude steel output by 11.8 percent year on year and 29.7 percent quarter on quarter to 2.17 million mt, driven by greater production of pig iron and its reallocation to steelmaking and downstream production at Ilyich SW. In the given period, Metinvest’s pig iron output totaled 2.09 million mt, increasing by 10.8 percent quarter on quarter and 6.8 percent year on year, respectively, mainly due to the relaunching of blast furnace No. 2 at Azovstal after the completion of maintenance in the previous quarter. This partly offset the shutdown of blast furnace No. 4 for capital repairs in March, with its further idling amid deteriorating market conditions.
In the January-March period this year, Metivenst’s production of merchant semi-finished products amounted to 637,000 mt, dropping by 30.2 percent quarter on quarter but rising 2.2 percent year on year. In particular, the company cut its merchant pig iron output by 74 percent quarter on quarter due to the redirection of hot metal for steelmaking. In the meantime, slab output increased by seven percent quarter on quarter to 529,000 mt. In the given period, the group’s production of finished steel increased by 37.6 percent quarter on quarter to 1.567 million mt. In particular, its coil production rose by 232,000 mt quarter on quarter after the launch of the hot strip mill 1700 at Ilyich Steel, following the completion of its reconstruction in November 2019.
In the mining sector, Metinvest’s total iron ore concentrate output grew by 4.5 percent compared to the previous quarter to 7.606 million mt. Meanwhile, the group’s output of merchant iron ore products rose by 1.8 percent quarter on quarter to 4,914 mt. In particular, its merchant concentrate output dropped by 9.13 percent to 3,388 mt due to a greater proportion of orders for pellets, the production of which rose by 36 percent quarter on quarter to 1,526 mt, SteelOrbis has learned.
Metinvest’s coking coal concentrate output in the first quarter rose by eight percent quarter on quarter to 842,000 mt, amid higher productivity and improved mining and geological conditions at United Coal’s mines.