Mechel, one of Russia's leading mining and metallurgical groups, has summarized its production and sales results for the second quarter and the first half of this year.
Accordingly, in the second quarter of this year, Mechel produced 811,000 tons of steel, which is six percent less than in the first quarter, while pig iron production decreased by 9.9 percent compared to the previous quarter to 693,000 tons. The company's production of ordinary coal amounted to 1.53 million tons, which is 28.3% less than in the previous quarter. Meanwhile, in the first half of the year, the company produced 1.67 million tons of steel, an increase of 1.8% year-on-year, while pig iron production decreased by 2.1% year-on-year to 1.46 million tons. The company's production of ordinary coal in the first half of the year amounted to 3.66 million tons, which is 27.9% less than in the same period last year.
Mechel explained the quarterly reduction in iron and steel production, referring to planned repairs at the continuous casting unit No. 1 of the Chelyabinsk Metallurgical Plant and at the rolling section of the Izhevsk Metallurgical Plant.
In the second quarter of this year, sales of Mechel's coking coal concentrate decreased by 40.4% compared to the previous quarter to 633 thousand tons, while sales to third parties decreased by 65.6% compared to the previous quarter to 268 thousand tons during the period indicated. In the first half of the year, sales of the company's coking coal concentrate decreased by 15.1 percent compared to the same period last year to 1.69 million tons.
