Exclusive Metinvest maintains stable steel production in Q1 despite challenges

During the period, the company produced 488 thousand tons of steel and 436 thousand tons of pig iron

Metinvest Group increased steel production by 4% year-on-year to 488 thousand tons in January-March 2025. At the same time, the figure remained stable compared to the previous quarter. This is stated in the company’s report.

Pig iron production for the period increased by 8% yoy, but decreased by 4% qoq to 436 thousand tons.

Iron and steel production in the first quarter exceeded the same period last year, driven by an increase in working hours amid a shutdown of blast furnace No. 9 at Kametstal for scheduled maintenance in March 2024. At the same time, pig iron production decreased slightly quarter-on-quarter due to a temporary shutdown of the pulverized coal section. Despite the challenges of wartime, including the shutdown of Pokrovske Coal Group, the company continues to operate at a high level, ensuring stability in the regions where it operates and contributing to the budgets of all levels of Ukraine.

In January-March, the company’s commercial steel output increased by 3% y/y and 8% q/q – to 770 thousand tons. In particular, the company produced 261 thousand tons of rolled products (-7% y/y, +35% q/q), 336 thousand tons of long products (+11% y/y, +17% q/q) and 173 thousand tons of semi-finished products (+4% y/y, -26% q/q).

Production of long products increased on the back of higher order volumes at Kametstal, while the decline in flat products was the result of a decline in demand for heavy plates.

Iron ore concentrate production (total) was 3.18 million tons, down 21% y/y, Thus, output of saleable products decreased by 15% y/y and increased by 11% q/q – to 3.76 mln tons, of which 2.06 mln tons (-27% y/y; +7% q/q) were concentrate and 1.697 mln tons (+7% y/y; +17% q/q) were pellets.

Coal concentrate production during the quarter amounted to 518 thousand tons (-52% y/y; -51% q/q). Starting from 2025, production is focused exclusively on United Coal Company (USA).

Coke production decreased to 260 thousand tons (-8% y/y; -6% q/q). The decline was due to the shutdown of coke oven battery No. 1 at Kametstal and the emergency shutdown of Zaporizhkoks in February due to military operations.

In 2024, Metinvest increased steel production by 4% compared to 2023, to 2.099 million tons. Pig iron production increased by 3% y/y – to 1.82 million tons. The output of commercial steel products decreased by 3% y/y – to 3.02 million tons, while iron ore concentrate increased by 42% y/y – to 15.73 million tons and coal concentrate fell by 22% y/y – to 4.28 million tons.