Metalloinvest announces operational results for Q2 2018
1 August 2018
Metalloinvest, a leading global iron ore and merchant HBI producer and supplier, and one of the regional producers of high-quality steel, today announces its operational results for the second quarter of 2018.
Andrey Varichev, CEO of Management Company Metalloinvest, commented:
"In the second quarter of 2018, Metalloinvest produced record volumes of pellets and HBI for a single quarter, which enabled us to increase the share of high value üadded iron ore product shipments to 72%. This is in line with our strategy of growing the proportion of high-margin products in our output. The Company’s steel plants also boosted their production of hot metal and steel to meet increased market demand."
Iron ore products
- In Q2 2018, Metalloinvest produced 10.1 mn tonnes of iron ore, an increase of 2.3% q-o-q, mainly due to improved productivity and the calendar factor
- In Q2 2018, the Company increased pellet production by 4.0% q-o-q to 7.0 mn tonnes, mainly as a result of the scheduled reduction of the time spent on maintenance works at MGOK
- In Q2 2018, HBI production increased by 1.3% q-o-q to 1.2 mn tonnes, despite this, Metalloinvest's HBI/DRI output decreased to 2.0 mn tonnes. The q-o-q decrease of 1.2% was mostly due to scheduled major maintenance works at two DRI units at OEMK
- In Q2 2018, the share of high value-added iron ore product shipments (pellets, HBI/DRI) increased to 72%, compared with 69% in Q1 2018
- In Q2 2018, Metalloinvest increased hot metal output by 2.9% q-o-q to 0.7 mn tonnes, mainly due to increased shipments of merchant pig iron
- In Q2 2018, the Company increased crude steel production by 1.9% q-o-q to 1.3 mn tonnes. This was largely a result of the increased operations at Ural Steel's Continuous Casting Machine #1 to meet growing demand for cast billets
- In Q2 2018, actual volumes of high value-added (HVA ) steel product shipments slightly increased, despite this, HVA steel product shipments as a proportion of the Company’s overall steel product shipments stood almost flat q-o-q at 45% in Q2 2018
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