Mechel boosted coal production 15% in Q3, coking-coal concentrate sales fell 10%
MOSCOW. Nov 19 (Interfax) - Mechel boosted its coal production 15% quarter-on-quarter in Q3, to 5.3 million tonnes, the company said.
Stripping increased 17%.
Sales of coking-coal concentrate fell 10%, to 1.72 million tonnes, due to scheduled repairs at the Neryungrinskaya enrichment complex and a temporary decrease in sales in South Korea.
Sales of thermal coal increased 4%, to 1.36 million tonnes; PCI coal sales grew 37%, to 390,000; and anthracite sales rose 51%, to 206,000.
Coal production at Elginskoye field remain flat quarter-on-quarter, at 1.2 million tonnes; in 9M, it fell 17%, to 3.2 million.
Coal production fell 7% year-on-year, to 13.43 million tonnes.
CEO Oleg Korzhov was quoted as saying, "As for prices for our key product - coking coal concentrate - as well as other metallurgical coals, starting in 3Q2019 our key markets were highly volatile and demonstrated a major slump in prices, down 20% on average and occasionally dropping by 30% compared to the beginning of the quarter. However, in our opinion - which coincides with consensus forecasts of leading international investment banks - demand and price indicators in the next few years will remain fairly stable due to customers in Asia Pacific."
Pig iron production fell 8%, to 794,000 tonnes, and steel output decreased 5%, to 888,000, due to repairs to the Chelyabinsk Metallurgical Plant's blast furnace No. 4.
Operational results ('000 tonnes unless otherwise noted):
9M 2019 | 9M 2018 | % | Q3 2019 | Q2 2019 | % | ||
Run-of-mine coal | 13 426 | 14 472 | -7 | 5 290 | 4 616 | +15 | |
Pig iron | 2 530 | 2 817 | -10 | 794 | 867 | -8 | |
Steel | 2 750 | 2 976 | -8 | 888 | 932 | -5 | |
Power generation ('000 kWh) | 2 496 108 | 2 368 074 | +5 | 740 415 | 857 970 | -14 | |
Heat generation (Gcal) | 3 673 344 | 3 942 086 | -7 | 677 343 | 975 372 | -31 |
Sales of finished products:
9M 2019 | 9M 2018 | % | Q3 2019 | Q2 2019 | % | |||||||||
Coking coal concentrate | 5 333 | 5 401 | -1 | 1 720 | 1 916 | -10 | ||||||||
Including coking coal concentrate supplied to third parties | 3 309 | 3 268 | +1 | 1 068 | 1 218 | -12 | ||||||||
PCI | 935 | 992 | -6 | 390 | 284 | +37 | ||||||||
PCI supplied to third parties | 935 | 992 | -6 | 390 | 284 | +37 | ||||||||
Anthracites | 501 | 878 | -43 | 206 | 136 | +51 | ||||||||
Including anthracites supplied to third parties | 371 | 724 | -49 | 137 | 104 | +32 | ||||||||
Thermal coal | 4 007 | 4 319 | -7 | 1 364 | 1 311 | +4 | ||||||||
Including thermal coal supplied to third parties | 3 541 | 3 718 | -5 | 1 203 | 1 151 | +5 | ||||||||
Iron ore concentrate | 1 922 | 1 398 | +37 | 722 | 588 | +23 | ||||||||
Including iron ore concentrate supplied to third parties | 181 | 42 | +329 | 14 | 18 | -22 | ||||||||
Coke | 1 913 | 1 831 | +5 | 649 | 613 | +6 | ||||||||
Including coke supplied to third parties | 697 | 502 | +39 | 281 | 185 | +52 | ||||||||
Ferrosilocon | 52 | 55 | -6 | 16 | 19 | -19 | ||||||||
Including ferrosilicon supplied to third parties | 36 | 32 | +13 | 13 | 14 | -7 | ||||||||
Long rolls | 1 895 | 2 110 | -10 | 631 | 657 | -4 | ||||||||
Flat rolls | 334 | 390 | -14 | 107 | 112 | -5 | ||||||||
Hardware | 438 | 478 | -8 | 148 | 148 | 0 | ||||||||
Forgings | 32 | 32 | -2 | 11 | 10 | +11 | ||||||||
Stampings | 84 | 110 | -23 | 25 | 31 | -19 |