Management comments
Andrey Varichev, CEO of Management Company Metalloinvest, commented:
“In Q1 2019, sales of pig iron and steel products remained at the same
level as in Q1 2018, despite the ongoing implementation of various
projects to modernise steel capacities, including the reconstruction of
EAF1 facilities and hot tests of the Flexible Modular Furnace at Ural
Steel.”
Pig iron and steel products
Production
In Q1 2019, the output of hot metal decreased by 13.9% q-o-q and by 5.3%
y-o-y as a result of maintenance works at blast furnaces as well as a
decline in internal consumption in line with steel production
requirements.
Crude steel production decreased in Q1 2019 by 10.5% q-o-q and by 4.2%
y-o-y to 1.2 mn tonnes. This was largely a result of plant
reconstruction and hot tests of FMF5 at Ural Steel as well as changes to
the product mix at OEMK.
Shipments
The share of HVA6 steel product shipments amounted to 45.6% in Q1 2019
(compared with 39.2% in Q4 2018 and 45.9% in Q1 2018).
In Q1 2019, the share of pig iron and steel product shipments to Russia
remained flat at the level of Q4 2018 (29.0% and 29.7% respectively).
In Q1 2019, deliveries to MENA increased by more than double q-o-q and
by 43.5% y-o-y (the share of shipments comprised 26.5%), mainly due to
increased shipments to clients in Turkey.
Production by product
tonnes '000 |
Q1 2017 |
Q2 2017 |
Q3 2017 |
Q4 2017 |
Q1 2018 |
Q2 2018 |
Q3 2018 |
Q4 2018 |
Q1 2019 |
Change |
Hot metal |
642 |
696 |
672 |
676 |
716 |
737 |
785 |
787 |
678 |
-13.9% |
Crude steel |
1,232 |
1,141 |
1,218 |
1,167 |
1,237 |
1,260 |
1,232 |
1,324 |
1,185 |
-10.5% |
Shipments by product
tonnes '000 |
Q1 2017 |
Q2 2017 |
Q3 2017 |
Q4 2017 |
Q1 2018 |
Q2 2018 |
Q3 2018 |
Q4 2018 |
Q1 2019 |
Change |
Pig iron |
474 |
553 |
518 |
531 |
531 |
542 |
543 |
559 |
532 |
-4.8% |
Steel products, incl. |
1,145 |
1,030 |
1,147 |
1,092 |
1,134 |
1,174 |
1,136 |
1,198 |
1,126 |
-6.0% |
SEMIS |
599 |
443 |
573 |
585 |
555 |
581 |
584 |
628 |
554 |
-11.8% |
SEMIS HVA |
85 |
100 |
86 |
42 |
75 |
81 |
75 |
77 |
102 |
32.5% |
SBQ HVA |
238 |
263 |
270 |
249 |
274 |
279 |
269 |
264 |
250 |
-5.3% |
Plate |
94 |
75 |
82 |
52 |
59 |
70 |
48 |
100 |
59 |
-41.0% |
Plate HVA |
130 |
149 |
136 |
164 |
171 |
164 |
160 |
129 |
161 |
24.8% |
Total shipments, incl.: |
1,619 |
1,583 |
1,665 |
1,623 |
1,665 |
1,716 |
1,679 |
1,757 |
1,658 |
-5.6% |
Steel products HVA |
453 |
512 |
492 |
455 |
520 |
524 |
504 |
470 |
513 |
9.1% |
Shipments by region
tonnes '000 |
Q1 2017 |
Q2 2017 |
Q3 2017 |
Q4 2017 |
Q1 2018 |
Q2 2018 |
Q3 2018 |
Q4 2018 |
Q1 2019 |
Change |
Russia |
510 |
419 |
453 |
390 |
421 |
482 |
490 |
522 |
481 |
-7.9% |
Europe |
154 |
213 |
298 |
267 |
331 |
299 |
221 |
285 |
166 |
-41.8% |
Asia |
83 |
38 |
38 |
111 |
106 |
17 |
88 |
186 |
99 |
-46.8% |
MENA |
297 |
292 |
483 |
394 |
306 |
280 |
293 |
205 |
439 |
114.1% |
Others |
575 |
621 |
393 |
461 |
501 |
639 |
586 |
559 |
473 |
-15.4% |
Total shipments |
1,619 |
1,583 |
1,665 |
1,623 |
1,665 |
1,716 |
1,679 |
1,757 |
1,658 |
-5.6% |
OEMK
Production by product |
tonnes '000 |
Q1 2017 |
Q2 2017 |
Q3 2017 |
Q4 2017 |
Q1 2018 |
Q2 2018 |
Q3 2018 |
Q4 2018 |
Q1 2019 |
Change |
Pellets |
1,015 |
1,030 |
1,025 |
899 |
993 |
1,035 |
1,054 |
896 |
1,033 |
15.3% |
DRI |
754 |
703 |
665 |
846 |
825 |
786 |
788 |
823 |
829 |
0.7% |
Crude steel |
887 |
830 |
883 |
881 |
860 |
856 |
846 |
874 |
851 |
-2.6% |
Shipments by product |
tonnes '000 |
Q1 2017 |
Q2 2017 |
Q3 2017 |
Q4 2017 |
Q1 2018 |
Q2 2018 |
Q3 2018 |
Q4 2018 |
Q1 2019 |
Change |
DRI |
20 |
25 |
20 |
34 |
34 |
37 |
43 |
32 |
47 |
46.9% |
Steel products |
852 |
776 |
849 |
828 |
811 |
817 |
815 |
824 |
805 |
-2.3% |
Total shipments |
872 |
801 |
870 |
863 |
845 |
854 |
858 |
857 |
852 |
-0.6% |
Ural Steel
Production by product |
tonnes '000 |
Q1 2017 |
Q2 2017 |
Q3 2017 |
Q4 2017 |
Q1 2018 |
Q2 2018 |
Q3 2018 |
Q4 2018 |
Q1 2019 |
Change |
Hot metal |
642 |
696 |
672 |
676 |
716 |
737 |
785 |
787 |
678 |
-13.9% |
Crude steel |
346 |
311 |
335 |
286 |
378 |
404 |
386 |
450 |
334 |
-25.8% |
Shipments by product
|
tonnes '000 |
Q1 2017 |
Q2 2017 |
Q3 2017 |
Q4 2017 |
Q1 2018 |
Q2 2018 |
Q3 2018 |
Q4 2018 |
Q1 2019 |
Change |
Pig iron |
474 |
553 |
518 |
531 |
531 |
542 |
543 |
559 |
532 |
-4.8% |
Steel products |
293 |
254 |
297 |
264 |
323 |
357 |
320 |
374 |
321 |
-14.2% |
Total shipments |
767 |
807 |
816 |
795 |
854 |
899 |
863 |
933 |
853 |
-8.6% |
Source from
Metalloinvest |
|