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Metalloinvest Announces Operational Results for H1 2020

Steel News - Published on Mon, 10 Aug 2020

Image Source: Metalloinvest
Metalloinvest announced its operational results for the first half of 2020. MetalloinvestCEO Nazim Efendiev said “In the first half of 2020, the Company demonstrated strong year-on-year growth in the production and shipments of all key products, namely iron ore concentrate, pellets, HBI and steel. The implementation of our strategy to increase the share of high quality products in our product mix will further improve the sustainability of our sales in the face of volatility in commodity markets and the global economy as a whole.”

In H1 2020, iron ore production increased by 2.6% YoY and amounted to 20.2 million tonnes. Growth was driven by an increase in productivity due to the processing of higher quality ore and the reduction of iron ore consumption for concentrate. In Q2 2020, production volumes decreased by 1.7% YoY and amounted to 9.9 million tonnes. This is mainly explained by scheduled maintenance works at beneficiation workshops #1 and #3 in Q2 2020

In H1 2020, pellet production increased by 0.6% YoY and amounted to 14.2 million tonnes mainly as a result of an increase in productivity due to a change in the pellet product mix. In Q2 2020, pellet production decreased by 2.0% YoY primarily due to the scheduled major maintenance works at Pellet Plant #2 at MGOK in Q2 2020

In H1 2020, the Company produced 4.1 million tonnes of HBI/DRI, which represents 1.6% growth YoY. This is mainly explained by an increase in productivity

In H1 2020, the total volume of iron ore product shipments to third parties increased by 8.4% YoY and amounted to 13.5 million tonnes. This is mainly due to an increase in shipments of pellets to China

HVA iron ore products (pellets and HBI/DRI) continue to prevail in the total volume of iron ore product shipments and amounted to 74% in H1 2020 and in H1 2019

The share of iron ore product shipments to the domestic market decreased to 47% in H1 2020 compared to 55% in H1 2019 due to an increase in export shipments

In H1 2020, Metalloinvest produced 1.3 million tonnes of hot metal, which represents 7.2% decrease YoY. This is mainly due to a decrease in productivity of Blast Furnace #3 at Ural Steel

Crude steel production increased by 4.6% YoY to 2.5 million tonnes. This growth was mainly a result of the reconstruction of FMF #2 at Ural Steel in H1 2019 and the increase in productivity following a change in the product mix at OEMK

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Posted By : Yogender Pancholi on Mon, 10 Aug 2020
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