Metalloinvest- Russia’s leading steel producer has recently announced its consolidated operational results for the third quarter of CY19.
The company’s crude steel production in the third quarter moved down by 3.9% Q-o-Q to 1.197 MnT. The shipments of steel products decreased by 4.7% Q-o-Q to 1.11 MnT in Q3 CY19.In the Q3 2019, Metalloinvest’s iron ore production is 10.404 MnT, increased by 3.4% Q-o-Q. The shipment of iron ore rose by 29% to 1.996 MnT Q-o-Q in Q3 2019.
“In the third quarter of 2019 steel prices continued to demonstrate weak dynamics, which was partially offset by the outperformance of average iron ore prices. As a result, the Company’s consolidated EBITDA for nine months of 2019 amounted to USD 2.1 bn, largely due to a 25% increase in the mining segment EBITDA. Due to the deep processing of iron ore products and competitive cash costs, business profitability remains strong”, Finance Director of company shared.
Metalloinvest is world’s leading producer of merchant HBI, the second largest producer of pellets, the largest iron ore company in Russia and the CIS, producer of high quality steel.
| Production by Product | Q1 2019 | Q2 2019 | Q3 2019 | Change (%) QoQ |
| Iron ore | 9,602 | 10,063 | 10,404 | 3.4% |
| Crude steel | 1,185 | 1,246 | 1,197 | -3.9% |
| Shipment by Product | Q1 2019 | Q2 2019 | Q3 2019 | Change (%) QoQ |
| Iron ore | 1,624 | 1,547 | 1,996 | 29.0% |
| Steel Products Incl.semis | 1,126 | 1,168 | 1,113 | -4.7% |
| Semis | 554 | 597 | 626 | 4.9% |
Fig in ‘000 tonnes
Source: Company reports
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