Russia: Metalloinvest reports 2% increase in CY’20 crude steel production

Russian mining and metallurgy company, Metalloinvest recorded crude steel production at nearly 5 mn t in CY’20, up 2% y-o-y against 4.8 mn t in the previous year. Production increased mainly due to a ramp up in volumes at Ural Steel after the reconstruction of electric arc furnaces. The company registered steel shipments at 4.6 mn t in CY’20, up 1.5% y-o-y against 4.5 mn t in CY’19.