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Metinvest cuts output of semi-finished products by 1%, raises output of finished products by 23% in Jan-Sept
KYIV. Nov 9 (Interfax-Ukraine) – Metinvest, the largest Ukrainian mining and metallurgical holding, in January-September of this year reduced production of semi-finished products by 1% compared to the same period last year, to 2.466 million tonnes, but increased production of finished products by 23%, to 5.345 million tonnes.
According to a press release from parent company Metinvest B.V. on the results of operating activities for nine months of 2021, in the third quarter of 2021 production of semi-finished products increased by 48% compared to the previous quarter, to 1.015 million tonnes. Thus, the effect of consolidation of commercial billet production at the facilities previously owned by Dniprovsky Integrated Iron & Steel Works (DMK), since August 2021, amounted to 165,000 tonnes. Production of commercial cast iron increased by 36%. At the same time, commercial slab production increased by 15% due to a decrease in intra-group consumption due to the annual overhauls of reelers in the European Union and the United Kingdom in August 2021.
Over nine months of 2021, production of commercial semi-finished products decreased by 1% due to a decrease in production of commercial slabs by 313,000 tonnes as a result of redistribution of slabs in favor of flat-rolled products. At the same time, production of commercial cast iron increased by 117,000 tonnes, mainly due to an increase in production of liquid iron. At the same time, the volume of billet production amounted to 165,000 tonnes due to joining the DMK production capacity group.
In the third quarter of 2021, finished goods production increased by 2% compared to the previous quarter and amounted to 1.863 million tonnes. At the same time, flat-rolled products production decreased by 43,000 tonnes, to 1.490 million tonnes, mainly due to a decrease in hot-rolled plate production at Azovstal and rolling mills in the EU and the UK, which was partially offset by an increase in hot-rolled coil production at Illich Iron and Steel Works. Long steel production increased by 103,000 tonnes, to 338,000 tonnes, thanks to the acquisition of rolling capacities of DMK; production of rail products increased by 5,000 tonnes, to 13,000 tonnes; production of pipe products decreased by 21,000 tonnes, to 22,000 tonnes due to a decrease in the order portfolio.
Over nine months of 2021, production of finished products increased by 23%. At the same time, production of flat products increased by 859,000 tonnes, to 4.430 million tonnes mainly due to an increase in coil production as a result of an increase in the productivity of the 1700 mill and four-stand mill at Illich Iron and Steel Works, as well as an increase in the backlog of orders for thick plates at Azovstal. Long steel production increased by 161,000 tonnes to 788,000 tonnes as a result of an increase in the order book for Promet Steel, as well as joining the DMK production capacity group.
Production of rail products decreased by 25,000 tonnes, to 25,000 tonnes, output of pipe products decreased by 9,000 tonnes, to 102,000 tonnes.
Metinvest is a vertically integrated mining group of companies that manages assets at every link in the production chain from iron ore and coal mining and coke production to production of semi-finished products and finished products from steel, rolled pipes and coils, as well as production of other high value-added products. The group consists of mining and metallurgical enterprises located in Ukraine, Europe and the USA, and has a sales network covering all key world markets.