Metinvest increased its crude steel output by 9.1pc to 8.3mn mt in 2020 from 7.6mn mt in 2019, while its iron ore concentrate production climbed 5.1pc to 30.5mn mt against 29mn mt during the same period.
According to the company’s production and earnings update, iron ore production rose due to improved output at its three sites, operational changes, and the use of third-party ore processed at Central GOK. The subsection of merchant iron ore swelled by 32.5pc to 14.2mn mt or 46.6pc of total iron ore output. Pellet production, however, dropped by 29.2pc to 4.9mn mt in 2020 against 2019.
In 2020, the Russian producer’s crude steel output increased by 4.4pc at the Azovstal plant to 4.2mn mt and rose at the Illyich Steel plant by 14.4pc to 4.1mn mt compared to the previous year.
Hot metal production at Metinvest rose by 7pc to 8.5mn mt in 2020 against the previous year with Azovstal increasing it by 9.14pc to 3.8mn mt and Illyich’s output climbing by 4.9pc to 4.7mn mt. Coking coal concentrate production fell by 2.6pc to 2.9mn mt in 2020 compared to 3mn mt in 2019.
Raw steel production declined by 3.2pc to 2.1mn mt in Q4 2020 against the preceding quarter and iron ore concentrate output remained flat at 7.7mn mt during the same period. The company cited maintenance shut down at its Ilyich blast furnace no 3 in November for the decline during the quarter.