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Metinvest's crude steel, hot metal output up YOY in Q1

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Metinvest's crude steel, hot metal output up YOY in Q1

MetinvestB.V. said April 29 that it produced about 2.00 million tonnes ofcrude steel in the first quarter, up 19% from the 1.67 million tonnes producedin the same period in 2015.

Crude steel output increased at and Yenakiieve Steel, by21% and 91%, respectively, to 714,000 tonnes and 501,000 tonnes. Meanwhile,production at Azovstal decreased by 4% to 783,000 tonnes from 818,000tonnes.

Metinvest's hot metal production rose by 17% year over yearto 2.06 million tonnes, driven by a rebound in production at Yenakiieve Steeland Ilyich Steel — which went up by 106% and 10%, respectively, to 479,000tonnes and 902,000 tonnes — following a decline amid the continuing conflict inEastern Ukraine from the second half of 2014.

Yenakiieve was shut down from Feb. 7, 2015, to March 16,2015, and raw material supplies to Azovstal and Ilyich were limited.

Meanwhile, iron ore concentrate output increased by 6% to7.91 million tonnes.

"The low output in [the first quarter of 2015] stemmedfrom shipment issues and lower intragroup consumption amid the conflict inEastern Ukraine," the company said.

Coal concentrate production was also reported to havedecreased by 6% to 799,000 tonnes.