Ukrainian mining and steel producing group Metinvest has announced its results for the third quarter and the first nine months of the current year.
According to its results, Metinvest's crude steel production decreased by 42 percent to 1.73 million mt in the third quarter compared to the previous quarter. In the first nine months of the current year, Metinvest produced 7.455 million mt of crude steel, down 21 percent year on year.
In addition, in the third quarter Metinvest produced 1.387 million mt of finished steel products, down 35 percent quarter on quarter, including 984,000 mt of flat products and 339,000 mt of long products. In the January-September period, the company's finished steel product output amounted to 5.498 million mt, down 21 percent compared to the corresponding period of 2013.
In the third quarter, the raw coking coal production of Metinvest decreased by 15 percent quarter on quarter to 954,000 mt, while the company produced 8.44 million mt of iron ore concentrate, falling eight percent quarter on quarter. In the first nine months of the year, the company's raw coking coal production and iron ore concentrate output reached 3.316 million mt and 26.451 million mt, down 24 percent and five percent respectively, both year on year.
The company stated that the drops in its output in the third quarter, in particular since the end of July, were due to raw material supply constraints at Azovstal and Ilyich Steel brought about by damage to railway stations during the conflict in eastern Ukraine and by the shutdown of production at Yenakiieve Steel as of August 13.
