Metalloinvest Increases Iron Ore and Steel Outputs

In Q1, 2017 Metalloinvest produced 10.07Mt of iron ore, (+0.4% compared with the corresponding period of 2016:10.04Mt). Production of nodules grew 0.2% up to 5.98Mt compared with Q1 2016, while production of direct reduced iron dropped 0.6% to 1.47Mt. Pig iron production dropped 14.6% to 0.64Mt compared with Q1 2016. Steel melting in Q1 2017 increased 12.6% to 1.23Mt compared with January-March 2016.

In Q1 2017 iron ore exports reached 2.79Mt (-1.4% compared with the corresponding period of 2016). Nodules supplies increased 4.6% to 3.24Mt, while supplies of direct reduced iron dropped 9.6% to 0.60Mt compared with Q1 2016. Iron ore domestic supplies dropped 53% compared with 57% in Q1 2016 due to increase in export supplies.

Steel products dispatch in Q1 reached 1.1Mt (+13.7% compared with the corresponding period of 2016). Commercial pig iron export reached 0.47Mt (- 17.9% compared with Q1 2016) due to, among other reasons, increase in own steel production. Russia accounts for 31% in the total steel products supplies against 20% in Q1 2017.