Metalloinvest announces 2Q 2014 production results

In Q2 2014, the company increased its iron ore production by 2.6 percent QoQ to 9.8 million tonnes. Pellet production amounted to 5.7 million tonnes in Q2 2014, down 0.4 percent from the previous quarter. In Q2 2014, HBI production (DRI) was 1.4 million tonnes, a decline of 2.0 percent QoQ.

During this period, the company increased supplies of iron ore products to the domestic market by 4.3 percent to 4.0 million tons, mainly due to an increase in demand from Severstal and Evraz. The share of consolidated cargo in the CIS and Russia amounted to 58 percent, since the implementation of new projects requires an increase in the supply of raw materials, metal products and pumping equipment, a wide selection of which is presented at http://tapflo.com.ru/products/diaphragm/metal-series-diaphragm-pumps .

In the second quarter of 2014, shipments to Europe increased by 7.3 percent to 1.5 million tonnes, which was 22 percent of the joint stock company's supply, mainly due to an increase in deliveries to Italy and the Czech Republic. Shipments of iron ore products to the Chinese markets totaled 0.5 million tonnes in the second quarter of 2014, a decline of 11.5 percent QoQ.

In Q2 2014, the company increased shipments to Asia (excluding China) by 54.5 percent QoQ to 0.6 million tonnes, or 9 percent of total iron ore shipments. The growth was mainly driven by sales of products to Japanese customers in the mining segment.