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Metinvest provides updates on its current situation

Friday, 08 August 2014 15:24:55 (GMT+3)   |  
       

Ukrainian mining and steel producing group Metinvest, due to the difficult situation in eastern Ukraine, has given details about the status of its production, raw materials supply and shipments of finished goods to customers as of July 31.

Metinvest's subsidiary Khartsyzsk Pipe is operating normally. Its pipe production volume met the target in June and declined by 8.4 percent in July. The enterprise is able to continue shipments thanks to a good order portfolio and existing stocks of raw materials.

All of Avdiivka Coke's coking batteries that were shut down as a result of the loss of electricity on July 28 are operating and producing products. Production of blast furnace coke in July was down by 17.4 percent month on month. Coke shipments to Metinvest subsidiaries Ilyich Iron & Steel Works of Mariupol and Yenakiieve Steel decreased by approximately 20 percent in July month on month. Raw materials are being shipped in required quantities, but delivery delays are possible due to problems on some railway sections.

On the other hand, Ilyich Iron & Steel Works of Mariupol and Azovstal Iron and Steel Works were forced to reduce production volumes. In July, hot metal output at Ilyich decreased by 14.6 percent month on month, while Azovstal's steel output decreased by 14.4 percent and shipments of finished goods by just 1.4 percent, both month on month.


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