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Mechel Reports Operational Results for H1 of 2020

Steel News - Published on Thu, 20 Aug 2020

Image Source: Mechel
Mechel PAO announced operational results for H1 of 2020. Mechel PAO’s Chief Executive Officer Oleg Korzhov said “We do not see any significant impact of the COVID-19 pandemic on our mining segment’s operational results. Our facilities function in a stable mode and fulfill their obligations regarding product shipments. However, the pandemic’s effect on the steel division’s 2Q2020 sales is obvious, in both export and domestic markets. There was no traditional seasonal spike in demand.”

He said “In the steel division, pig iron and steel output went up by 5% and 6% accordingly as major overhauls of Chelyabinsk Metallurgical Plant’s blast furnace and converter were completed. Considering our country’s difficult epidemiological situation, we adapted to market needs and our clients’ requirements insofar as ready product output and sales policy were concerned. And even though the construction season started out late, the overall sales of long rolls remained at the first quarter’s level, with a three-percent increase year-on-year, primarily due to rebar sales. Sales of the universal rolling mill’s shapes and sections went down in the second quarter due to a noticeable slump in demand for high-margin products in this period.”

In '000 tonnesH1'20H1'19YoYQ2'20Q1'20QoQ
Pig Iron178317373912872 +5
Steel18031861-3926876 +6

In '000 tonnesH1'20H1'19YoYQ2'20Q1'20QoQ
Long rolls1295126236476480
Flat rolls2332292109124-12

Universal Rolling Mill
In '000 tonnesH1'20H1'19YoYQ2'20Q1'20QoQ
Sales of rails2159013999116-15
Sales of sections14314216776 -11

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Posted By : Yogender Pancholi on Thu, 20 Aug 2020
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