Ukrainian mining and steel producing group Metinvest has announced its operational results for the first quarter this year.
Accordingly, in the first quarter, the company’s total crude steel output amounted to 469,000 mt, declining by five percent quarter on quarter and by four percent year on year, while its pig iron output moved down by five percent from the previous quarter and by 10.0 percent year on year to 403,000 mt. Crude steel and pig iron outputs declined both on quarter-on-quarter and year-on-year basis, mainly due to the shutdown of blast furnace No. 9 for a major overhaul in March this year.
In the given quarter, Metinvest’s merchant semi-finished product output came to 166,000 mt, decreasing by nine percent compared to the fourth quarter of last year, mainly due to the shutdown of blast furnace No. 9, and declined by 41.0 percent year on year, while its finished steel production grew by four percent quarter on quarter and by eight percent from the first quarter of 2023 to 584,000 mt. In particular, its flats output rose by 12.0 percent compared to the previous quarter, due to larger orders from re-rollers in Italy and the UK, and fell by one percent year on year to 282,000 mt, while its longs production was down by three percent quarter on quarter and up by 17.0 percent year on year to 302,000 mt.
In the mining segment, the company’s total iron ore concentrate production in the first quarter increased by 36.0 percent quarter on quarter and by 110.7 percent year on year to 4.86 million mt, while its pellet production amounted to 1.59 million mt, up by 23.0 percent quarter on quarter and by 31.0 percent year on year. Additionally, its total coking coal concentrate production was down by four percent from the fourth quarter and by 26.0 percent from the first quarter of last year to 1.09 million mt and its total coke output moved down by three percent quarter on quarter and by 11.0 percent year on year to 283,000 mt.