Russia-based IMH posts higher production results for 2020

Wednesday, 17 February 2021 16:47:29 (GMT+3)   |   Istanbul

Russian pig iron and coking coal producer Industrial Metallurgical Holding (IMH) has announced its operational results for the full year of 2020, notably reporting increased outputs of pig iron, coke and coal. In addition, in 2020 the company has managed to increase its sales, despite challenging market conditions.

Accordingly, in 2020 IMH produced 2.607 million mt of pig iron, increasing by 10 percent year on year and, concurrently, setting a new production record. Meanwhile, the company’s pig iron sales in the period in question rose by 11 percent year on year to 2.615 million mt, with 1.513 million mt sold to the domestic market, mainly due to high demand from the company’s subsidiary Tula Steel. Consequently, the domestic sales in the given period increased by 96 percent year on year. IMH’s coke output increased by six percent year on year to 2.741 million mt in 2020, while its coke sales rose by 1.2 percent year on year to 2.722 million mt.

In the mining sector, IMH’s coal production rose by 13 percent year on year to 2.355 million mt in 2020, mainly due to higher output at the Tikhova mine. Meanwhile, the company’s coal concentrate output decreased by three percent year on year to 2.355 million mt in 2020. IMH’s iron ore output totalled 4.790 million mt in 2020, down by 1.2 percent year on year, while iron ore concentrate production decreased by 2.2 percent year on year to 2.066 million mt.

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