In the first three months of 2024, the Metinvest group increased the production of finished products by 8%, or by 41,000 tons, year over year to 584,000 tons, while compared to the fourth quarter of 2023, the production of finished products increased by 4%, or by 22,000 tons.
This follows from a statement by Metinvest, the Ukrainian News agency reports.
In the first three months of 2024, the production of pig iron at MK Kamet-Stal (Kametstal) amounted to 403,000 tons, and steel - 469,000 tons. This is less than in the previous quarter and in the same period of the previous year, mainly due to the stoppage for the planned overhaul of Blast Furnace 9 in March 2024.
"On August 2023, the sea corridor for commercial vessels heading through the Black Sea from or to Ukraine began to operate, which, among other things, led to the restoration of the export route of sea transportation of mining and metallurgical products. This allowed the group to gradually increase the capacity utilization of its mining and beneficiation plants; in particular, production at the Inhulets GOK and the Northern GOK was increased, as well as the use of ore by third parties for the production of concentrate at the Central GOK," the message states.
As a result, in the first three months of 2024, compared to the previous quarter, the production of total iron ore concentrate increased by 36% to 4,859,000 tons, the production of marketable iron ore products increased by 41% to 4,403,000 tons, the production of marketable iron ore concentrate increased by 53 % to 2,818,000 tons, the production of commodity pellets increased by 23% to 1,585,000 tons, which was also helped by the increase in the portfolio of orders for them.
At the same time, in the first three months of 2024, the production of total iron ore concentrate increased 2.2 times year over year, the production of commercial iron ore products increased 2.3 times, the production of commercial iron ore concentrate increased four times, and commercial pellets - by 31%.
In the first three months of 2024, the group's coal concentrate production decreased by 26% year over year.
The main factor was a 41% decrease in production volumes at the United Coal Company (United States) due to the cessation of production at the Carter Roag mines and reduced production at some Wellmore mines.
At the same time, the production of coal concentrate at the Pokrovsky coal group decreased by 9%, mainly due to a decrease in coking coal production.
As the Ukrainian News agency earlier reported, in 2023, the Metinvest group reduced the production of finished products by 18%, or by 0.486 million tons, year over year to 2.291 million tons.
Also, in 2023, the group reduced the loss by 11.3 times, or USD 2 billion, year over year to USD 194 million.
The main shareholders of the Metinvest group are SCM (71.24%) and the Smart Holding group (23.76%), which participate in the management of Metinvest on a partnership basis.
100% of SCM shares belong to businessman Rinat Akhmetov.
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