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Mechel announces ferroalloys segment output and sales for 9M 2011
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Monday, 19 Dec 2011
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Product Sales:

Product name9M '119M '10Change
Nickel12.5124%
Including nickel supplied to Mechel enterprises4.63.531%
Ferrosilicon66.166.30%
Including ferrosilicon supplied to Mechel enterprises22.218.421%
Chrome43.343.6-1%
Including chrome supplied to Mechel enterprises12.911.215%


In '000 tonnes

Mr Gennadiy Ovchinnikov CEO of Mechel Ferroalloys Management Company said that "In relation to the operational performance of the ferroalloys division keeps showing good results. Nickel production volumes were maintained at a stable level. Some decrease in ferrosilicon production was anticipated and is caused by reconstruction of furnace No4 that is being prepared for launch into operation in the first quarter of next year. Ferrochrome production is continuously increasing from one quarter to another. Further increases will be supported by the chrome bales workshop."

He added that "In the third quarter, we managed to reduce nickel and ferrochrome production cash costs. But at the same time the rate of decrease of realized products prices outpaced the rate of cash costs contraction that resulted in financial result decrease compared to the previous quarter."

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