Press Room

Operational Results for FY and Q4 2020

3 February 2021

Metalloinvest (the Company), 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 twelve months and the fourth quarter of 2020.

Management comments

Nazim Efendiev, CEO of Management Company Metalloinvest, commented:

"Despite the challenges of 2020, we were able to maintain our production at a high level during the year. The production of iron ore, our core product, amounted to 40.4 mn tonnes, which is 0.5% more than last year. Steel production increased to almost 5 mn tonnes, mainly due to an increase in volumes at Ural Steel after the reconstruction of electric arc furnaces using the innovative FMF technology, that took place in 2019. Share of high value-added products in the total volume of iron ore shipments remained at the level of 72%. The milestone events of 2020 were the launch of a unique crushing and conveyor facility and the beginning of production of premium pellets for metallisation at Andrey Varichev Mikhailovsky GOK. This allows the Company to continue implementing its strategy of improving product quality and ensuring sustainable sales."

Iron ore products


  • In FY 2020, iron ore production amounted to 40.4 mn tonnes, a 0.5% y-o-y increase. This is mainly attributed to an increase in productivity due to the processing of higher quality ore. In Q4 2020, production volumes decreased by 1.0% q-o-q and amounted to 10.1 mn tonnes. The decrease in volumes is associated with equipment repairs
  • Due to the reconstruction of Pellet Plant #3 at MGOK, which took place in Q3 2020, pellet production in FY 2020 decreased by 1.8% y-o-y and amounted to 27.6 mn tonnes. In Q4 2020, pellet production increased by 3.1% q-o-q
  • In FY 2020, the Company produced 7.8 mn tonnes of HBI/DRI, which is 0.9% less than in 2019. The decrease is due to the overhaul of HBI Plant #1 and HBI Plant #3 and the modernisation of DRI Plant #1 in Q3 2020. In Q4 2020, due to the completion of the modernisation of DRI Plant #1 in Q3 2020, HBI/DRI production increased by 23.2% q-o-q


  • In FY 2020, the total volume of iron ore product shipments to third parties increased by 6.5% y-o-y and amounted to 28.7 mn tonnes. The main growth driver was an increase in pellet shipments to Europe
  • The HVA iron ore products (pellets and HBI/DRI) continued to prevail in the total volume of iron ore product shipments and amounted to 72.0% in FY 2020
  • The share of iron ore product shipments to the domestic market decreased slightly to 48.8%, compared to 52.5% in 2019
  • In FY 2020, the Company increased the total volume of export shipments by 15.6% y-o-y. Shipments to Europe and MENA increased by 43.8% and 16.7% respectively
  • In Q4 2020, due to the recovery in demand in the Companys traditional and local markets, mainly Western Europe, export shipments to Asia reduced by 55.9% compared to Q3 2020

Pig iron and steel products


  • In FY 2020, hot metal production decreased by 16.3% y-o-y and amounted to 2.3 mn tonnes, due to a decrease in the productivity of Blast Furnace #3 at Ural Steel, as a result of preparatory works that took place in Q4 2020 for the upcoming reconstruction
  • Crude steel production increased by 2.0% y-o-y to nearly 5.0 mn tonnes. This growth was mainly a result of the reconstruction of electric arc furnaces using FMF technology at Ural Steel carried out in 2019, an optimisation of repair time at OEMK and the recovery in demand for Rolling Mill 2800's products


  • Pig iron supplies to third parties decreased from 1.7 mn tonnes in FY 2019 to 1.2 mn tonnes in FY 2020 due to a decline in production
  • In FY 2020, pig iron and steel product shipments to the Russian market increased by 1.5% y-o-y and amounted to 32.1%
  • In October 2020, the ball rolling facility was launched at OEMK. In Q4 2020, shipments amounted to 9,300 tonnes, all of which was shipped to LGOK and MGOK

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Artem Lavrischev

Artem Lavrischev

Director of Finance and Economics Development Department
Tel.: +7 (495) 981-55-55

For more information, please contact the Finance and Economics Development Department


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