Metalloinvest announces operational results for Q3 2018
31 October 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 third quarter of 2018.
Andrey Varichev, CEO of Management Company Metalloinvest, commented:
"We are pleased to have recorded a significant increase in the production of all major products during the first 9 months of the year. However, the scheduled maintenance works on Metalloinvest’s key production equipment in the third quarter have affected the Company's quarter-on-quarter operating results.
Furthermore, we are delighted to note that, in line with our strategy of increasing the share of high value-added products, the shipment of pellets and HBI in January-September amounted to 72% of the total sales of iron ore products, compared to 60% for the same period last year. The share of shipments of high value-added steel products has consistently been making up approximately half of our total steel product sales."
Iron ore products
- In Q3 2018, Metalloinvest produced 10.0 mn tonnes of iron ore, a decrease of 1.3% q-o-q, mainly due to scheduled maintenance works at LGOK and MGOK. In 9M 2018, the Company produced 30.0 mn tonnes of iron ore (-0.6% y-o-y)
- In Q3 2018, the Company increased pellet production by 2.4% q-o-q to 7.1 mn tonnes, mainly as a result of the partial change in the schedule of maintenance works at LGOK. In 9M 2018, the Company produced 20.8 mn tonnes of pellets (+11.8% y-o-y)
- In Q3 2018, HBI/DRI output decreased by 9.4% to 1.8 mn tonnes largely due to scheduled major maintenance works at two HBI plants. In 9M 2018, the Company produced 5.8 mn tonnes of HBI/DRI (+15.6% y-o-y)
- In Q3 2018, the share of high value-added (HVA) iron ore product shipments (pellets, HBI/DRI) increased to 75%, compared with 72% in Q2 2018
- In Q3 2018, Metalloinvest increased hot metal output by 6.5% q-o-q to 0.8 mn tonnes, mainly due to completion of major maintenance works at one of blast furnaces at Ural Steel in Q2 2018. In 9M 2018, the Company produced 2.2 mn tonnes of hot metal (+11.3% y-o-y)
- In Q3 2018, crude steel production decreased by 2.2% q-o-q to 1.2 mn tonnes. This was largely a result of a change in the product mix at OEMK and scheduled major maintenance works at Rolling Mill 2800 at Ural Steel. In 9M 2018, the Company produced 3.7 mn tonnes of crude steel (+3.8% y-o-y)
- In Q3 2018, HVA steel product shipments as a proportion of the Company’s overall steel product shipments stood almost flat q-o-q at 44%
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