Exclusive Metinvest reports overall decline in production in January-September

Pig iron production fell by 6%, steel production – by 10%. Production of iron ore concentrates decreased by 4%, and coke production – by 3%

In January-September 2025, Metinvest Group reduced steel production by 10% compared to the same period in 2024, to 1.45 million tons. Pig iron production fell by 6% year-on-year – to 1.28 million tons during the period. This is stated in the company’s report.

In Q3, pig iron and steel production increased by 41% q-o-q and 30% q-o-q, respectively, to 497 thousand tons and 546 thousand tons.

The company notes that the improvement in production results in the third quarter was facilitated by the resumption of operation of blast furnace No. 9 at the Kametstal steel plant after a major overhaul in the second quarter. At the same time, this factor had a negative impact on the figures for the first nine months.

The output of commercial steel products in January-September increased by 4% y-o-y to 2.39 million tons. In particular, flat steel production amounted to 817 thousand tons (+12% y-o-y), long steel production amounted to 1 million tons (+5% y-o-y), and semi-finished products amounted to 568 thousand tons (-9% y-o-y). In Q3, 858,000 tons of steel products were produced (+13% y/y), including 265,000 tons of flat products (-8% q-o-q), 326,000 tons of long products (-4% q-o-q), and 267,000 tons of semi-finished products (+108.6% q-o-q).

Metinvest attributes the partial decline in rolled steel production in Q3 to scheduled maintenance at rolling mills in Italy and Bulgaria in August. At the same time, the significant increase in semi-finished products output is due to higher pig iron production.

Iron ore concentrate production (total) in January-September amounted to 11.71 million tons, down 4% y-o-y. Thus, commercial output remained at last year’s level of 11.46 million tons, of which 6.46 million tons (-6% y-o-y) accounted for concentrate and 4.99 million tons (+9% y-o-y) accounted for pellets. In Q3, total iron ore concentrate output amounted to 3.99 million tons (+2% q-o-q), with commercial output at 3.93 million tons (+4% q-o-q), of which 2.23 million tons were iron ore concentrates (+2% q-o-q) and 1.7 million tons were pellets (+7% q-o-q).

Coke output decreased to 821 thousand tons in 9 months (-3% y/y) and increased by 4% q/q in Q3 to 287 thousand tons. Coke production increased during the quarter due to the launch of additional chambers of coke oven battery No. 2 at Zaporizhzhya Coke in June. At the same time, the overall annual figure decreased due to the decommissioning of coke oven battery No. 1 at Kametstal.

The situation in the group’s coal segment remains difficult due to a combination of security, economic, and production factors. The suspension of operations at the Pokrovsk Coal Group was a necessary step amid intensified hostilities and power supply disruptions. Additional pressure is being created by inventory problems, high logistics costs, and unfavorable market conditions, which prompted the company to consider selling its US asset, United Coal Company, and reviewing the structure of its coal business.

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