Metalloinvest ups Q2 iron ore output 2.6% to 9.8 mln tonnes
MOSCOW. July 31 (Interfax) - The Metalloinvest group raised iron ore production 2.6% quarter-on-quarter in Q2 2014 to 9.8 million tonnes, the company said in a statement.
Iron ore commodity shipments to the domestic market rose 4.3% to 4 million tonnes, mostly on the back of increased demand from Severstal and Evraz plc. Shipments to consumers in Russia and the CIS were unchanged at 58% of consolidated iron ore shipments.
In Q2 2014, the company's shipments to Europe increased by 7.3% q-o-q to 1.5 million tonnes or 22% of consolidated shipments of iron ore products, mostly driven by an increase in supplies to Italy and the Czech Republic.
Shipments of iron ore products to China and MENA amounted to 0.5 million tonnes and 0.2 million tonnes in Q2 2014, a decline of 11.5% q-o-q and 16.4% q-o-q, respectively.
In Q2 2014, the company increased shipments to Asia (excluding China) by 54.5% q-o-q to 0.6 million tonnes or 9% of consolidated shipments, mostly driven by sales to Japanese customers
Iron ore pellet production amounted to 5.7 million tonnes in Q2 2014, a decrease of 0.4% q-o-q. In Q2 2014, HBI/DRI production amounted to 1.4 million tonnes, a decline of 2.0% q-o-q.