Metinvest reduced steel production by 8% in Q1 2022

Pig iron production decreased by 15% to 1.83 million tons compared to the same period last year

According to the results of January-March 2022, Metinvest Group reduced steel production by 8% to 1.96 million tons compared to the same period last year. At the same time, this indicator decreased by 25% compared with the Q4 2021, Interfax-Ukraine reported citing parent company Metinvest B.V. press release.

Pig iron production decreased by 15%, to 1.83 million tons compared to the same period last year, and by 31% compared to the fourth quarter of 2021.

Coke production decreased by 33% and 28%, respectively, to 783 thousand tons.

According to the results of the first quarter, the Group reduced the total production of iron ore concentrate by 3% compared to the same period last year, and by 10% compared to the previous quarter, to 2.78 million tons.

During the same period, pellet production amounted to 1.28 million tons, which is 35% less than in the same period last year, but 34% more than the previous quarter.

Production of coking coal concentrate in the first quarter of this year increased by 29% compared to the first quarter of 2021, but decreased by 14% quarter-on-quarter to 1.27 million tons.

Earlier GMK Center reported that in 2021 Metinvest increased steel production by 15% compared to 2020, to 9.5 million tons. Pig iron output in 2021 increased by 15% compared to the previous year, to 9.7 million t.