Metinvest maintains stable steel production in Q1 despite challenges

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.