Mechel, one of the leading Russian mining and steel groups, has announced its production and sales results for the first quarter of 2023.
Accordingly, in the first quarter, Mechel produced 906,000 mt of crude steel, 3.2 percent higher compared to the fourth quarter last year. Meanwhile, the company’s pig iron production in the given period increased by 2.3 percent quarter on quarter to 835,000 mt. Production of run-of-mine coal totaled 2.1 million mt, down 16.4 percent quarter on quarter.
In the given quarter, Mechel’s coking coal concentrate sales fell by 34.0 percent quarter on quarter to 553,000 mt, with sales to third parties decreasing by 40.8 percent quarter on quarter to 323,000 million mt during the given period.
The company’s thermal coal sales totaled 700,000 mt in the first quarter, down 7.7 percent compared to the fourth quarter last year.
In the first quarter, the company’s shipments of iron ore concentrate rose by 108.9 percent quarter on quarter to 305,000 mt. In the given period, the company started commercial production at the Sivaglinsky iron ore deposit, and the first batch of ore was shipped to Chelyabinsk Metallurgical Plant in April.
The company’s sales of coke went up by 19.1 percent quarter on quarter to 560,000 mt in the first quarter due to higher local demand and despite restrictions on shipments to Western destinations, while the company’s sales of ferrosilicon remained stable quarter on quarter at 18,000 mt.
In the given period, the company’s total sales of long steel products decreased by 2.1 percent quarter on quarter to 595,000 mt, and sales of flat steel products totaled 111,000 mt, up 6.7 percent quarter on quarter due to an increase in Chelyabinsk Metallurgical Plant’s output.
