IMH operational results for 1H 2020
Industrial Metallurgical Holding (IMH), one of the world’s leading suppliers of merchant pig iron and the biggest merchant coke producer in Russia, announces its operational results for 1H 2020
Key operational indicators:
|
Production, ‘000 tonnes |
2Q |
1Q |
Change,% Q/Q |
1H |
1H |
Change,% Y/Y |
|
Pig iron |
562 |
608 |
(8) |
1 170 |
1 223 |
(4) |
|
Coke (6% moisture content) |
673 |
674 |
- |
1 347 |
1 373 |
(2) |
|
Coal |
747 |
573 |
30 |
1 320 |
948 |
39 |
|
Coal concentrate |
547 |
582 |
(6) |
1 129 |
1 213 |
(7) |
|
1 220 |
1207 |
1 |
2 427 |
2 412 |
1 |
|
|
Iron ore concentrate |
525 |
520 |
1 |
1 045 |
1 065 |
(2) |
Indicators of actual sales of the main commercial products:
|
Production, ‘000 tonnes |
1H |
1H |
Change,% Y/Y |
|
Pig iron |
1 175 |
1 229 |
(4) |
|
Pig iron, export sales |
379 |
1 045 |
(64) |
|
Pig iron, domestic sales |
796 |
185 |
330 |
|
Coke (6% moisture content), sales |
1 341 |
1 424 |
(6) |
|
Coke (6% moisture content), export sales to third parties |
345 |
551 |
(37) |
|
Coke (6% moisture content), domestic sales to third parties |
325 |
182 |
79 |
|
Coke (6% moisture content), intragroup sales |
671 |
691 |
(3) |
Total pig iron production and sales in 1H 2020 decreased by 4% compared to the same period of 2019 due to the blast furnace №3 maintenance in March-April. The share of pig iron supplies to the domestic market amounted to 68%, a 53 p.p. increase to compare with the level of 1H 2019, which was due to additional demand driven by growing supply from metallurgical plant Tula-Steel, that was launched in summer of 2019.
Total coke production decreased by 2% and shipments decreased by 6% on the back of lower demand because of measures taken to prevent the spread of COVID-19 all over the world, including shutdown of some coke consumers. Moreover, coke shipments were impacted by reduction of intra-group consumption caused by maintenance period at Tulachermet. Negative impact of decreasing coke shipments was partly fixed because of sales growth in the domestic market. In 3Q 2020 we see that restrictions are gradually removing, and demand is growing on overseas markets.
Coal production in 1H 2020 increased by 39% due to stable operational performance of Butovskaya and Tikhova mines. In 2Q 2020 coal production was 30% higher than in 1Q 2020.
Coal concentrate output in 1H 2020 reduced by 7% compared with the level of 1H 2019 due to increase of ash content in processed coal.
