|
Q2 2020 VS Q1 2020
Pig iron output decreased by 11.3% quarter-on-quarter (q-o-q) to 2,089
thousand tonnes, driven by a slowdown in steel demand and a major
overhaul of Blast Furnace No. 2, which was completed in June. The
overhaul will improve MMK’s environmental performance thanks to a series
of dust exhausting unit projects at cast and stock houses.
Steel output was down 22% q-o-q at 2,358 thousand tonnes due to the
scheduled reconstruction of Hot-Rolling Mill 2500 and a drop in demand
for metal products from key consuming industries amid the spread of the
coronavirus pandemic.
MMK Group’s total sales of finished products amounted to 2,223 thousand
tonnes, down 19.0% q-o-q.
MMK Group’s sales of HVA products totalled 1,151 thousand tonnes, down
12.0% q-o-q. The share of HVA products in total sales amounted to 51.8%.
The decline in HVA product sales in Q2 was driven by the slowdown in
Russian and global business activity.
MMK Coal’s coal concentrate production totalled 687 thousand tonnes,
down 15.6% q-o-q, due to weaker demand for concentrate at MMK, in turn
driven by lower steel output.
H1 2020 VS H1 2019
Pig iron output decreased by 8.3% year-on-year (y-o-y) to 4,444 thousand
tonnes amid the coronavirus pandemic and a longer period of scheduled
maintenance at blast furnace facilities as compared to the previous
year.
Steel output in H1 2020 was down 13.2% y-o-y to 5,381 thousand tonnes,
due to a lower consumption of steel during scheduled reconstruction of
Hot-Rolling Mill 2500, as well as weaker demand.
MMK Group's total sales of finished products fell by 11.9% y-o-y to
4,968 thousand tones.
HVA product sales dropped by 11.0% y-o-y to 2,459 thousand tonnes. The
share of HVA products in total sales increased to 49.5%.
MMK Coal’s concentrate output in H1 2020 amounted to 1,501 thousand
tonnes, up by 18.8% y-o-y, due to the completion of a beneficiation
plant upgrade, which took place throughout 2019.
MMK GROUP: CONSOLIDATED RESULTS
|
(thousand tonnes) |
Q2 2020 |
Q1 2020 |
% |
H1 2020 |
H1 2019 |
% |
|
Crude steel production |
2,358 |
3,022 |
-22 |
5,381 |
6,198 |
-13.2 |
|
Pig iron production |
2,089 |
2,355 |
-11.3 |
4,444 |
4,849 |
-8.3 |
|
Coal concentrate production |
687 |
814 |
-15.6 |
1,501 |
1,263 |
18.8 |
|
Iron ore production |
787 |
658 |
19.7 |
1,445 |
1,445 |
0 |
|
Finished products sales, including: |
2,223 |
2,745 |
-19 |
4,968 |
5,638 |
-11.9 |
|
Semi-finished products |
20 |
0 |
– |
20 |
0 |
- |
|
Long products |
272 |
357 |
-23.8 |
628 |
700 |
-10.2 |
|
Flat hot-rolled products |
781 |
1,080 |
-27.7 |
1,861 |
2,175 |
-14.4 |
|
HVA products, including: |
1,151 |
1,308 |
-12 |
2,459 |
2,764 |
-11 |
|
Thick plate (mill 5000) |
213 |
231 |
-7.5 |
444 |
574 |
-22.6 |
|
Flat cold-rolled products |
192 |
245 |
-21.6 |
437 |
498 |
-12.4 |
|
Downstream products, including: |
745 |
833 |
-10.5 |
1,578 |
1,692 |
-6.7 |
|
Tin plate |
45 |
42 |
7.3 |
86 |
75 |
14.7 |
|
Galvanised steel |
377 |
443 |
-14.9 |
821 |
898 |
-8.6 |
|
Polymer-coated steel |
157 |
140 |
11.8 |
297 |
332 |
-10.7 |
|
Band |
28 |
32 |
-13.4 |
59 |
60 |
-0.3 |
|
Formed section |
23 |
44 |
-48.1 |
67 |
79 |
-15.2 |
|
Pipes |
18 |
13 |
43.4 |
31 |
22 |
40.7 |
|
Metalware |
90 |
108 |
-16.3 |
198 |
199 |
-0.4 |
|
Other metal products |
8 |
11 |
-32 |
19 |
27 |
-29.4 |
|
Share of HVA products |
51.80% |
47.70% |
|
49.50% |
49.00% |
|
CONSOLIDATED PRICES FOR METAL PRODUCTS
|
(USD / tonne) |
Q2 2020 |
Q1 2020 |
% |
H1 2020 |
H1 2019 |
% |
|
Average price per tonne: |
522 |
591 |
-11.7 |
560 |
639 |
-12.4 |
|
Semi-finished products |
255 |
0 |
- |
255 |
0 |
- |
|
Long products |
439 |
497 |
-11.7 |
472 |
535 |
-11.8 |
|
Flat hot-rolled products |
414 |
520 |
-20.4 |
475 |
544 |
-12.7 |
|
HVA products, including: |
618 |
675 |
-8.4 |
648 |
740 |
-12.4 |
|
Thick plate (mill 5000) |
536 |
688 |
-22.1 |
615 |
727 |
-15.4 |
|
Flat cold-rolled products |
535 |
602 |
-11.1 |
572 |
622 |
-8 |
|
Downstream products, including: |
664 |
692 |
-4 |
679 |
779 |
-12.8 |
|
Tin plate |
702 |
773 |
-9.2 |
736 |
800 |
-8 |
|
Galvanised steel |
630 |
651 |
-3.2 |
641 |
740 |
-13.4 |
|
Polymer-coated steel |
790 |
827 |
-4.5 |
808 |
908 |
-11 |
|
Band |
593 |
663 |
-10.6 |
631 |
691 |
-8.7 |
|
Formed section |
600 |
760 |
-21.1 |
706 |
791 |
-10.7 |
|
Pipes |
514 |
555 |
-7.4 |
531 |
588 |
-9.7 |
|
Metalware |
637 |
659 |
-3.3 |
649 |
768 |
-15.5 |
|
Other metal products |
668 |
692 |
-3.5 |
682 |
809 |
-15.7 |
MMK GROUP HIGHLIGHTS BY KEY SEGMENTS
STEEL SEGMENT RUSSIA
|
(thousand tonnes) |
Q2 2020 |
Q1 2020 |
% |
H1 2020 |
H1 2019 |
% |
|
Crude steel production |
2,358 |
3,022 |
-22 |
5381 |
6,198 |
-13.2 |
|
Pig iron production |
2,089 |
2,355 |
-11.3 |
4444 |
4,849 |
-8.3 |
|
Sales of finished products, including: |
2,122 |
2,597 |
-18.3 |
4719 |
5,461 |
-1.6 |
|
Semi-finished products |
20 |
0 |
- |
20 |
0 |
- |
|
Long products |
272 |
357 |
-23.8 |
628 |
695 |
-10.2 |
|
Flat hot-rolled products |
831 |
1,095 |
-24.2 |
1926 |
2,359 |
-18.3 |
|
HVA products, including: |
1,000 |
1,145 |
-12.7 |
2145 |
2,407 |
-10.8 |
|
Thick plate (mill 5000) |
213 |
231 |
-7.5 |
444 |
574 |
-22.6 |
|
Flat cold-rolled products |
192 |
245 |
-21.6 |
437 |
495 |
-11.9 |
|
Downstream products, including: |
594 |
670 |
-11.3 |
1264 |
1,339 |
-5.3 |
|
Tin plate |
45 |
42 |
7.3 |
86 |
75 |
14.7 |
|
Galvanised steel |
265 |
311 |
-14.9 |
576 |
609 |
-5.3 |
|
Polymer-coated steel |
118 |
109 |
8.1 |
227 |
264 |
-14.1 |
|
Band |
28 |
32 |
-13.4 |
59 |
64 |
-0.3 |
|
Formed section |
23 |
44 |
-48.1 |
67 |
79 |
-15.2 |
|
Pipes |
18 |
13 |
43.4 |
31 |
22 |
40.7 |
|
Metalware |
90 |
108 |
-16.3 |
198 |
199 |
-0.4 |
|
Other metal products |
8 |
11 |
-32.4 |
19 |
27 |
-29.5 |
|
Share of HVA products |
47.10% |
44.10% |
|
45.40% |
44.00% |
|
STEEL SEGMENT TURKEY
|
(thousand tonnes) |
Q2 2020 |
Q1 2020 |
% |
H1 2020 |
H1 2019 |
% |
|
Sales of finished products, including: |
154 |
167 |
-7.8 |
322 |
373 |
-13.7 |
|
Flat hot-rolled products |
3 |
4 |
-22.8 |
7 |
11 |
-34.9 |
|
HVA products, including: |
151 |
163 |
-7.5 |
314 |
362 |
-13 |
|
Flat cold-rolled products |
– |
– |
– |
– |
4 |
– |
|
Downstream products, including: |
151 |
163 |
-7.5 |
314 |
358 |
-12.1 |
|
Galvanised steel |
112 |
132 |
-15 |
244 |
289 |
-15.5 |
|
Polymer-coated steel |
39 |
31 |
24.8 |
70 |
68 |
2.2 |
|
Share of HVA products |
97.90% |
97.50% |
|
97.70% |
97.00% |
|
|
Intersegment sales from Steel segment Russia |
53 |
19 |
172.5 |
72 |
196 |
-63.2 |
COAL MINING SEGMENT
|
(thousand tonnes) |
Q2 2020 |
Q1 2020 |
% |
H1 2020 |
H1 2019 |
% |
|
Coking coal mining |
909 |
1,238 |
-26.3 |
2,143 |
2,442 |
-11.2 |
|
Coking coal processing |
1,202 |
1,442 |
-16.6 |
2,644 |
2,337 |
-13.1 |
|
Mined |
1,061 |
1,358 |
-21.9 |
2,419 |
2,188 |
10.6 |
|
Purchased |
141 |
84 |
67.2 |
225 |
135 |
66.8 |
|
Toll |
– |
– |
– |
– |
14 |
– |
|
Coking coal concentrate |
687 |
814 |
-15.6 |
1,501 |
1,263 |
18.8 |
To view the full presentation, please go to the official website of MMK |
