Metinvest reduces steel production by 4%, coke by 11% in Q1 2024
Based on the results of January-March of this year, Metinvest reduced steel production by 4% compared to the same period last year, and by 5% compared to the previous quarter - to 469,000 tonnes, according to a press release from the parent company Metinvest B.V.
According to it, pig iron production decreased by 10% from the first quarter of 2023 and by 5% from the fourth quarter of 2023, to 448,000 tonnes, coke - by 11% and 3%, respectively, to 283,000 tonnes. In particular, in the first quarter of 2024, Kamet Steel produced 403,000 tonnes of pig iron and 469,000 tonnes of crude steel, which is lower than in 2023 and is mainly caused by the shutdown of blast furnace No. 9 for a planned overhaul in March 2024.
In the first quarter of 2024, the output of commercial semi-finished products amounted to 166,000 tonnes, decreasing by 5% compared to the first quarter of 2023, and by 41% compared to the previous quarter, mainly due to the shutdown of Kamet Steel blast furnace No. 9 for repairs, as well as due to increased domestic consumption at the processing stages of processing.
In the first quarter of 2024, the output of finished products increased by 4% compared to the previous quarter, and by 8% compared to the same period last year - to 584,000 tonnes. At the same time, the output of flat products increased by 12% from the first quarter of 2024, but decreased by 1% from the fourth quarter of 2023, to 282,000 tonnes, which is due to an increase in the order portfolio at rolling mills in Italy and the UK, and the production of long rolled products decreased by 3% from Q1 2023, and increased by 17% from Q4 2024, to 302,000 tonnes.