OPERATING RESULTS OF IMH FOR 9M 2021
Industrial and Metallurgical Holding (IMH), one of the world's leading suppliers of merchant pig iron and the largest producer of merchant coke in Russia, announces its operating results for the first 9 months of 2021.
Key operational and sales results summary:
|
Production, Kt |
1Q 2021 |
2Q 2021 |
3Q 2021 |
9M 2021 |
9M 2020 |
Change, %, 9M 2021/ 9M 2020 |
|
Pig iron |
648 |
654 |
574 |
1,875 |
1,901 |
(1) |
|
Coke, 6% moisture |
673 |
692 |
705 |
2,070 |
2,051 |
1 |
|
Coal |
648 |
843 |
519 |
2,010 |
2,049 |
(2) |
|
Coal concentrate |
566 |
514 |
418 |
1,498 |
1,745 |
(14) |
|
Iron ore |
1,208 |
1,201 |
1,178 |
3,588 |
3,611 |
(1) |
|
Iron ore concentrate |
525 |
532 |
509 |
1,566 |
1,558 |
(1) |
|
Sales, Kt |
1Q 2021 |
2Q 2021 |
3Q 2021 |
9M 2021 |
9M 2020 |
Change, %, 9M 2021/ 9M 2020 |
|
Pig iron |
647 |
652 |
581 |
1,880 |
1,913 |
(2) |
|
Pig iron, export |
351 |
259 |
210 |
819 |
666 |
23 |
|
Pig iron, domestic |
296 |
393 |
372 |
1,060 |
1,247 |
(15) |
|
Coke 6% moisture |
663 |
718 |
693 |
2,074 |
2,014 |
3 |
|
Coke 6% moisture, third party |
310 |
319 |
344 |
973 |
1,018 |
(4) |
|
Coke 6% moisture, intragroup |
353 |
399 |
349 |
1,101 |
996 |
10 |
In the 3Q 2021, blast furnace #2 at the Tulachermet plant was suspended for maintenance which resulted in decline in pig iron production for the 3Q to compare with the 2Q 2021 output but the total result for 9M 2021 was insignificantly lower to compare with the same period of the previous year due to the record high results for the first six months of 2021 offsetting shortfall for the period of suspension. Pig iron sales dynamics corresponded to production: the two quarters with record-high results were followed by small decrease but the total change in sales was immaterial. The share of export sales totaled 44%, 10 p.p. up to compare with 9M 2020, which was due to favorable conditions at the export markets during 1H 2021.
Coke output was stable to compare with the level of the same period of the previous year. Sales of coke slightly increased due to the higher intragroup demand which was a result of pig iron production growth in the first half of 2021.
Coal production in 3Q 2021 decreased because of planned relocation of сoal face system at the Tikhova mine which resulted in slight reduction for 9M 2021 to compare with the output of the previous year.
Coal concentrate production decreased on the back of maintenance and lower internal ROM coal supply.
Iron ore concentrate output was slightly lower to compare with the previous year which was on the back of the reduced intragroup demand impacted by maintenance of the blast furnace at Tulachermet.
All subsidiaries of the Group operate normally in compliance with the standards and recommendations of relevant ministries regarding prevention of the spread of infectious diseases.
