Metinvest slightly reduced steel production in the first quarter

Metinvest, the largest Ukrainian mining and metallurgical holding, in January-March this year reduced steel production by 2% compared to the same period last year – to 2.129 from 2.170 million tons, but increased pig iron – by 3% , to 2.151 million tons, total coke production – by 4%, to 1.170 million tons. According to a press release from parent company Metinvest B.V. on the operating results for the first quarter of 2021, the group increased steel production by 1% compared to the fourth quarter of 2020, pig iron – by 2%, but reduced total coke output by 4%.

In the first quarter of 2021, the production of commercial semi-finished products decreased by 6% compared to the previous quarter – to 765 thousand tons – due to a decrease in the production of commercial slabs by 92 thousand tons as a result of the redistribution of slabs for the production of flat products. At the same time, the production of commercial pig iron increased by 41 thousand tons.

In January-March 2021, the production of commercial semi-finished products increased by 20% compared to the same period in 2020. At the same time, the production of commercial pig iron increased by 171 thousand tons – mainly due to an increase in the production of liquid pig iron at the Mariupol Iron and Steel Works. At the same time, production of commercial slabs decreased by 43 thousand tons, mainly due to the redistribution of slabs in favor of flat-rolled products.

Production of finished products increased by 10% compared to the previous quarter and amounted to 1.634 million tons. At the same time, production of flat products increased by 132 thousand tonnes to 1.378 million tonnes, mainly due to an increase in the productivity of Mill 1700 at MMK and demand for hot-rolled plates and coils. Production of long products increased by 48 thousand tonnes to 215 thousand tonnes due to an increase in production at Promet Steel by 53 thousand tonnes due to an increase in the order book.

The output of rail products decreased by 24 thousand tonnes. tons – up to 4 thousand tons – against the background of a decrease in demand from Ukrzaliznytsia. The production of pipe products decreased by 4 thousand tons – to 37 thousand tons – due to an increase in the share of production of thin pipes.

In the first quarter of 2021, the volume of coke production amounted to 1.170 million tons, which is lower than in the previous quarter by 4% as a result of a decrease in production at Avdiivka Coke Plant due to the repair of coke oven battery No. 6. At the same time, compared to the first quarter of last year, coke production increased by 4% as a result of the consolidation of production volumes of the Dnieper Coke Plant since April 2020, the effect of which amounted to 131 thousand tons in the first quarter of 2021. At the same time, coke production at AKHZ decreased by 50 thousand tons as a result of repairs of coke oven battery No. 6.

As reported, by the end of 2020, Metinvest increased steel production by 9% compared to 2019 – to 8.268 million tons, pig iron – by 7%, to 8.475 million tons, total coke production – by 3%, to 4.808 million tons.

Metinvest is a vertically integrated mining group of companies that manages assets in each a link in the production chain from iron ore and coal mining and coke production to the production of semi-finished products and finished products from steel, rolled pipes and coils, as well as the production of other products with high added value. The group consists of mining and metallurgical enterprises located in Ukraine, Europe and the USA, has a sales network covering all key world markets.

The main shareholders of Metinvest are the SCM group (71.24%) and Smart Holding (23.76%), jointly managing the company.

Metinvest Holding LLC is the managing company of Metinvest Group.

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