METALLOINVEST, a leading global iron ore and HBI producer based in Russia, today announces its operational results for the third quarter of 2012.

In Q3 2012, the Company’s iron ore, pellet and HBI/DRI shipments increased by 5.0% YoY and totaled 7.5 million tonnes.

In Q3 2012, the Company’s iron ore production increased by 0.9% QoQ to 10.1 million tonnes, while capacity utilization rate remained stable at the high level.

Production of pellets stayed at the same level of 5.7 million tonnes (+0.5% QoQ), whilst HBI/DRI output decreased by 6.5% QoQ mostly due to the scheduled maintenance work at LGOK’s HBI-1 Plant.

In Q3 2012, hot metal output declined by 16.5% QoQ to 0.5 million tonnes due to the scheduled repair work at one of the blast furnaces at Ural Steel. At the same time the company increased crude steel production by 4.6% QoQ to 1.4 million tonnes.

Iron ore shipments increased by 5.3% q-o-q to 3.3 mn tonnes, due to released volumes as a result of the maintenance work carried out at the company’s plants.

In Q3 2012 the company decreased HBI/DRI shipments by 13.8% QoQ, which was accompanied by the increase of pellet shipments to external customers by 2.5% QoQ.

The company enhanced its leading position in the domestic iron ore products market with a share of 53.5% or 4.0 million tonnes shipped in Q3 2012, representing an increase of 5.2% QoQ.

In Q3 2012, iron ore product shipments to China increased by 7.8% QoQ to 1.1 million tonnes.

The company’s shipments to Eastern Europe decreased by 14.7% QoQ to 1.2 million tonnes, which was largely compensated by a 26.4% increase in shipments to Western Europe, which amounted to 0.5 million tonnes.

Source - Metalloinvest

(www.steelguru.com)