Russia’s Mechel expects its steel output to grow by 10pc to 4mn mt in 2021 compared to 2020. The firm’s steel output increased by 1pc to 3.65mn mt in 2020 compared to 3.6mn mt in 2019. Its Q4 2020, steel production rose by 17pc to 1mn mt compared to 852,000mt in Q3 2020.
Mechel’s pig iron production grew by 6pc to 3.5mn mt last year compared to 3.3mn mt in the year prior. Its pig iron output also rose in the fourth quarter of 2020 by 2pc to 883,000mt compared to 862,000mt in the previous quarter.
The firm attributed the rise in output to the completion of major overhauls at its Chelyabinsk Metallurgical Plant blast furnace and converter. The Russian miner’s sales of iron ore concentrate declined by 16pc to 2.1mn mt in 2020 compared to 2.5mn mt in 2019. Sales in Q4 2020 also witnessed a 15pc drop to 513,000mt compared to 606,000mt in Q3 2020.
Mechel’s long steel sales inched up in 2020 by 1pc to 2.54mn mt from 2.5mn mt in 2019. Its fourth quarter sales dropped by 6pc to 607,000mt from 645,000mt in the prior quarter. Its flat roll sales last year rose by 2pc to 456,000mt from 449,000mt in 2019 while its Q4 2020 sales of flat rolls saw a 5pc rise to 115,000mt from 109,000mt in Q3 2020.
The company’s sales of stamping declined by 66pc to 37,000mt in 2020 from 107,000mt in 2019 while its rose by 92pc in the fourth quarter of 2020 to 7,000mt from 3,000mt in Q3 2020.
Mechel’s revenue declined by 8pc to RUB265.5bn in 2020 compared to the year prior while its EBITDA saw a 23pc drop to RUB41.1bn on an annual basis.