In the first half of 2023, the Metinvest group reduced the production of finished products by 39%, or 736,000 tons year over year, to 1.148 million tons.
This follows from a statement by Metinvest, the Ukrainian News agency reports.
In particular, the production of flat-rolled products decreased by 702,000 tons to 579,000 tons due to the shutdown of the Mariupol mills at the end of February 2022, which was partially offset by an increase in the production of hot-rolled thick sheets at rolling mills in Italy and Great Britain.
The production of long-rolled products decreased by 6,000 to 569,000 tons, mainly due to the shutdown of Azovstal at the end of February 2022, partially offset by increased production at Promet Steel in Bulgaria.
There was no production of rail and pipe products in H1, as the products were manufactured at the Mariupol plants.
In the second quarter of 2023, the production of finished products increased by 10% quarter over quarter to 601,000 tons.
In the first half of 2023, the production of iron and steel groups amounted to 918,000 tons and 1,032,000 tons, respectively, down 59% and 57% year over year. The main factors of this were the shutdown of the Mariupol plants at the end of February 2022, as well as the transition to work with two blast furnaces, instead of three, at Kametstal.
In the second quarter of 2023, pig iron production increased by 5% compared to the previous quarter to 470,000 tons, mainly due to the increase in the working time fund of Blast Furnace 9 at Kametstal against the background of the stabilization of the situation with electricity supplies since the end of January and the increase in the order portfolio.
As a result, steel production increased by 10% to 541,000 tons.
In the first half of 2023, the production of total iron ore concentrate decreased by 46% compared to the same period of the previous year to 4,746,000 tons due to the start of full-scale military operations in the territory of Ukraine at the end of February 2022.
As a result, the volume of commercial iron ore products decreased by 35% to 4,041,000 tons due to a decrease in commercial concentrate production by 66% (to 1,486,000 tons).
At the same time, the production of commercial pellets increased by 37% to 2,555,000 tons due to the reorientation of the order portfolio.
In the first half of 2023, the volume of coke production decreased by 40% to 648,000 tons compared to the same period of the previous year due to the shutdown of production at the Azovstal and Avdiyivka Coke Chemical Plant from the end of February 2022.
In the first half of the year, the group's coal concentrate production increased by 25% compared to the same period in 2022 to 3,043,000 tons due to increased production at Ukrainian and American mines (by 35% to 1,594,000 tons and by 16% to 1,449,000 tons, respectively), as well as improving the quality characteristics of Ukrainian coking coal.
As the Ukrainian News agency earlier reported, Metinvest reported a loss of USD 2.193 billion for 2022 compared to a net profit of USD 4.765 billion in 2021.
In 2022, the group's revenue decreased 2.2 times, or by USD 9.7 billion, to USD 8.288 billion.
In 2022, the Metinvest group reduced the production of finished products 2.6 times, or by 4.456 million tons year over year, to 2.777 million tons.
The principal 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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