In Q2 2020, the Metinvest Group cut production of metal products by 1% to 2.2 million tons against Q1, according to a report posted on the Company’s website.
Production of semi-finished products in April–June increased by 38% to 880 thousand tons against January–March. Specifically, pig iron production in three months increased by 3.7 times to 397 thousand tons, whereas production of slabs decreased by 9% to 483 thousand tons.
“Metinvest’s output of merchant semi-finished products surged … amid an increase in merchant pig iron production … caused primarily by higher demand. Meanwhile, merchant slab output decreased … due to lower production at both Mariupol plants,” the report says.
In Q2, Metinvest reduced production of finished products by 17% to 1.3 million tons against the previous quarter. Over this period, the Company managed to increase HRC production by 13% to 386 thousand tons, but decreased production of all other product types.
| Q2 2020 — Q1 2020, thsd tons | ∆ % | H1 2020 — H1 2019, thsd tons | ∆ % | |
|---|---|---|---|---|
| Semi-finished products | 880 | 38% | 1517 | 5% |
| Pig iron | 397 | 268% | 505 | -9% |
| Slab | 483 | -9% | 1012 | 15% |
| Finished products | 1294 | -17% | 2824 | -7% |
| Flat products | 1105 | -14% | 2353 | -8% |
| Hot-rolled sheet | 589 | -28% | 1408 | -22% |
| Hot-rolled coil | 386 | 13% | 728 | 7% |
| Cold-rolled coil | 39 | 5% | 75 | -18% |
| Galvanized cold-rolled coil | 84 | 2% | 166 | -17% |
| Other flat products | 8 | 14% | 14 | -59% |
| Long products | 155 | -32% | 385 | -2% |
| Rail products | 6 | -4% | 16 | 14% |
| Pipe products | 28 | -33% | 70 | -11% |
| Total | 2174 | -1% | 4341 | -3% |
Source: metinvestholding.com
In H1, Metinvest cut production of metal products by 3% to 4.3 million tons against H1 2019. Production of semi-finished products in H1 increased by 5% to 1.5 million tons, whereas production of finished products fell by 7% to 2.8 million tons.
Slab production grew by 15% on the back of demand. At the same time, pig iron production decreased by 9% mainly due to redirection of pig iron for making steel and downstream products at Ilyich Iron, according to the report.
In H1, the Company managed to increase production of hot-rolled coil and rail products by 70% and 14% to 728 thousand tons and 16 thousand tons respectively. A decline is recorded in production of other types of finished products.
As GMK Center reported earlier, in 2019, Metinvest boosted steel production by 3% to 7.6 million tons against the previous year. Production of pig iron dropped by 3% to 7.9 million tons.
Global decarbonization is turning electrical steel into one of the key products of China's ferrous…
The United Arab Emirates (UAE) and Oman have signed an investment agreement worth AED 117…
In January-February 2024, Germany increased its imports of rolled steel products from third countries by…
Belgian steelmakers reduced steel production by 5.7% in March 2024 compared to March 2023, to…
In 2023 Ferrexpo, the London listed iron ore company with assets in Ukraine, emitted 384…
In 2023 Ferrexpo, the London listed iron ore company with assets in Ukraine, recorded zero…