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Metalloinvest's iron ore, crude steel output slips in Q2 YOY on maintenance work

Maintenance works impacted on OAO Metalloinvest's iron ore production in the second quarter of 2017, pushing output down by 2.6% year over year to 10.1 million tonnes, the company said in its production results Aug. 1.

Pellet production remained flat at 6.3 million tonnes in the second quarter, while hot briquetted iron and direct reduced iron output increased to 1.8 million tonnes from 1.5 million tonnes in 2016 due to hot tests at the Lebedinsky project.

An ongoing overhaul at the Ural Steel facility weighed on crude steel production, which dropped year over year by 4.7% to 1.1 million tonnes.

The company's shipments of pig iron and steel products to the Russian market grew in the second quarter to 26% from 23% in the prior year, and exports to Asia rose marginally. Exports to Europe dropped to 13% from 24% in the year-ago period, the company reported.