Metinvest cut steel production by 2% in Q1

On the other hand, the Group ramped up production of iron ore concentrate in Q1

In Q1, Metinvest B.V., the Metinvest Group’s parent company of a vertically integrated mining & metals group, cut steel production by 2% to 2.13 million tons against Q1 2020, according to a report posted on Metinvest B.V.’s website.

In January–March, Ilyich Iron and Steel Works of Mariupol increased steel production by 2% to 1.07 million tons compared to the same period a year earlier. Conversely, Azovstal decreased production by 6% to 1.06 million tons.

In Q1 2021, pig iron production rose by 3% to 2.15 million tons compared to Q1 2020. In 3M, Ilyich Iron and Steel Works increased production of pig iron by 11% to 1.2 million tons, whereas Azovstal’s output declined by 6% to 937 thousand tons.

In Q1, Metinvest ramped up iron ore concentrate production by 2% to 7.8 million tons against the same period a year earlier due to a hike in production at Ingulets GOK, Northern GOK and Central GOK and the effects of operational improvements and third parties’ iron ore processing at Central GOK.

Metinvest Holding LLC is the managing company of the Metinvest Group. The major shareholders of Metinvest are its co-managing companies SKM Group (71.24%) and Smart Holding (23.76%).

In 2020, the Metinvest Group increased production of steel by 9% to 8.27 million tons against 2019. Pig iron production grew by 7% to 8.47 million tons, iron ore concentrate by 5% to 30.5 million tons y-o-y.