Russian steelmaker Metalloinvest reported a rise in crude steel and iron ore production during the first nine months of 2020.
Metallo’s crude steel output increased to 3.7mn mt in January-September, up 3.1pc from 3.6mn mt in the prior-year period, while iron ore volumes rose by 1pc to 30.3mn mt from with 30mn mt during the same period. The rise in steel production was attributed to better operations at the rebuilt electric-arc furnaces at its subsidiary, Ural Steel.
However, the production of pellets, HBI/DRI products, and hot metal decreased by 2.2pc, 2.4pc, and 13pc to 20mn mt, 5.8mn mt, and 1.8mn mt, respectively, in the comparative nine-months timeframe.
In the first nine months, the company’s iron ore and pellet sales increased by 11.7pc and 7.8pc to 5.7mn mt and 11.6mn mt, respectively, over the prior-year period, driven by higher shipments to Europe and Asia.
Output declines in Q3 2020
During the third quarter, the steelmaker’s output declined across all segments with hot metal production falling the most, by 24pc, over Q3 2019.
|Product (in mn mt)||Q3 2020||Q3 2019||% change|