Ukraine: Metinvest Reports 30% Growth in Steel Output in Q1 CY'20
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Ukraine's leading steelmaker Metinvest Group has announced operational results for its first quarter of CY'20 that ended on Mar 31. The group's crude steel output grew by 30% Q-o-Q to 2.17 MnT, driven by the greater production of hot metal and its reallocation to steelmaking and downstream at Ilyich Steel.
Compared with Q1 CY'19, Metinvest boosted its steel production by 12% Y-o-Y, as output climbed at both Mariupol plants.
The Group's merchant semi-finished steel products dropped by 30% Q-o-Q to 0.63 MnT, as output of pig iron fell by 0.30 MnT due to the diversion of hot metal to make steel and downstream products.
As compared to the previous quarter (Q4 CY'20), the production of finished steel products increased by 38% to 1.56 MnT.
| METINVEST'S Q1 CY'20 OPERATIONAL RESULTS | |||||
| Production | Q1 CY'20 | Q4 CY'19 | Change (Q-o-Q ) | Q1 CY'19 | Change (Y-o-Y) |
| Hot metal | 2,090 | 1,887 | 11% | 1,957 | 7% |
| Crude steel | 2,170 | 1,673 | 30% | 1,941 | 12% |
| Semi-finished products | 637 | 912 | -30% | 623 | 2% |
| Finished products | 1,567 | 1,139 | 38% | 1,501 | 4% |
| Coking coal concentrate | 842 | 779 | 8% | 674 | 25% |
| Iron ore concentrate | 7,606 | 7,278 | 5% | 7,204 | 6% |
Fig in 000'MT
Source: Company Release
