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Operational Results for Q1 2020
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 first quarter of 2020.
Management comments
Nazim Efendiev, acting CEO of
Management Company Metalloinvest, commented:
“In Q1 2020, the Company
increased the output of key products compared both to Q4 2019 and Q1
2019. The implementation of our comprehensive development programmes
enables us to consistently increase the share of high value-added
products within our product portfolio.
Meantime, the impact of
COVID-19 on the steel industry in a number of regions has led us to seek
alternative sales markets. China, one of the first countries to overcome
the pandemic peak, is now the key driver of demand. Given our low
production costs and a diversified product mix we expect the Company to
successfully cope with the current challenges and be able to maintain
sustainable sales in Q2 2020.”
Production by product
|
tonnes '000 |
Q1 2020 |
Q4 2019 |
Change |
Q1 2019 |
Change |
|
Iron ore |
10,292 |
10,173 |
1.20% |
9,602 |
7.20% |
|
Pellets |
7,070 |
6,848 |
3.20% |
6,840 |
3.40% |
|
HBI/DRI |
2,085 |
1,961 |
6.30% |
2,020 |
3.20% |
|
Hot metal |
688 |
667 |
3.10% |
678 |
1.50% |
|
Crude steel |
1,272 |
1,240 |
2.60% |
1,185 |
7.30% |
Shipments by product
|
tonnes '000 |
Q1 2020 |
Q4 2019 |
Change |
Q1 2019 |
Change |
|
Iron ore |
1,842 |
2,268 |
-18.80% |
1,624 |
13.40% |
|
Pellets |
3,910 |
4,087 |
-4.30% |
3,336 |
17.20% |
|
HBI/DRI |
1,176 |
1,041 |
13.00% |
1,224 |
-3.90% |
|
Pig Iron |
370 |
343 |
7.90% |
532 |
-30.50% |
|
Steel Products |
1,184 |
1,161 |
2.00% |
1,126 |
5.20% |
In Q1 2020, Metalloinvest
produced 0.7 mn tonnes of hot metal, +3.1% q-o-q and +1.5% y-o-y. The
production growth was mainly driven by the optimisation of maintenance
work duration.
Crude steel production grew by
2.6% q-o-q and by 7.3% y-o-y to 1.3 mn tonnes in Q1 2020. Q-o-q growth
was mainly driven by the increased demand for heavy plate. Y-o-y growth
was primarily a result of the stoppage of the EAF7 #2 shop in Q1 2019
for the reconstruction of FMF8 #2 at Ural Steel.
Pig iron shipments to third
parties increased by 7.9% q-o-q to 0.4 mn tonnes. Meanwhile, y-o-y
shipments decreased by 30.5% mainly due to the growth of internal
consumption.
The share of HVA9 steel product
shipments amounted to 38% in Q1 2020 (compared to 31% in Q4 2019).
In Q1 2020, pig iron and steel
product shipments to the Russian market increased by 12.2% q-o-q and by
3.3% y-o-y and amounted to 32% (compared to 29% in Q4 2019).
To view the full content,
please visit the official website of
Metalloinvest. |
