Metinvest Registers 3% Rise in Crude Steel Output in CY19
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Metinvest has announced its Q4 and 12M CY19 operational results. The company produced 7.57 MnT of crude steel in CY19, up by 3% Y-O-Y as against 7.32 MnT in CY18.
In Q4 CY19, overall steel output fell by 16% Q-o-Q to 1.67 MnT, as the group both produced less hot metal and allocated more to make merchant pig iron. The latter came amid higher demand for that product and lower demand for slabs and finished products.
In CY19, Metinvest's output of merchant semi-finished products rose by 4% Y-o-Y to 3.16 MnT. Total output of finished products edged down by 3% Y-o-Y to 5.59 MnT.
The group's total iron ore concentrate output in CY19 grew by 6% Y-o-Y to 29.02 MnT, mainly due to greater output at Northern GOK amid higher ore production, ongoing renovation of mining and transportation equipment and its efficient utilisation, as well as improved equipment performance at beneficiation plants.
| Metinvest Operational Results in Q4 and 12M CY19 | ||||||
| Production | CY19 | CY18 | Y-o-Y (%) | Q4 CY19 | Q3 CY19 | Q-o-Q (%) |
| Crude Steel | 7,578 | 7,323 | 3% | 1,673 | 1,982 | -16% |
| Hot Metal | 7,928 | 8,205 | -3% | 1,887 | 2,033 | -7% |
| Iron ore concentrate | 29,028 | 27,353 | 6% | 7,278 | 7,295 | 0 |
| Semi-finished products | 3,160 | 3,026 | 4 % | 912 | 809 | 13% |
| Finished products | 5,595 | 5,769 | -3% | 1,139 | 1,417 | -20% |
Fig in '000 MT
Source: Company Reports
