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Industrial Metallurgical Holding
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IMH operational results for 1H 2020

23 July 2020

Industrial Metallurgical Holding (IMH), one of the world’s leading suppliers of merchant pig iron and the biggest merchant coke producer in Russia, announces its operational results for 1H 2020

Key operational indicators:

Production, ‘000 tonnes

2Q
2020

1Q
2020

Change,% Q/Q

1H
2020

1H
2019

Change,% Y/Y

Pig iron

562

608

(8)

1 170

1 223

(4)

Coke (6% moisture content)

673

674

-

1 347

1 373

(2)

Coal

747

573

30

1 320

948

39

Coal concentrate

547

582

(6)

1 129

1 213

(7)

Iron ore

1 220

1207

1

2 427

2 412

1

Iron ore concentrate

525

520

1

1 045

1 065

(2)


Indicators of actual sales of the main commercial products:

Production, ‘000 tonnes

1H
2020

1H
2019

Change,% Y/Y

Pig iron

1 175

1 229

(4)

Pig iron, export sales

379

1 045

(64)

Pig iron, domestic sales

796

185

330

Coke (6% moisture content), sales

1 341

1 424

(6)

Coke (6% moisture content), export sales to third parties

345

551

(37)

Coke (6% moisture content), domestic sales to third parties

325

182

79

Coke (6% moisture content), intragroup sales

671

691

(3)


Total pig iron production and sales in 1H 2020 decreased by 4% compared to the same period of 2019 due to the blast furnace №3 maintenance in March-April. The share of pig iron supplies to the domestic market amounted to 68%, a 53 p.p. increase to compare with the level of 1H 2019, which was due to additional demand driven by growing supply from metallurgical plant Tula-Steel, that was launched in summer of 2019.

Total coke production decreased by 2% and shipments decreased by 6% on the back of lower demand because of measures taken to prevent the spread of COVID-19 all over the world, including shutdown of some coke consumers. Moreover, coke shipments were impacted by reduction of intra-group consumption caused by maintenance period at Tulachermet. Negative impact of decreasing coke shipments was partly fixed because of sales growth in the domestic market. In 3Q 2020 we see that restrictions are gradually removing, and demand is growing on overseas markets.

Coal production in 1H 2020 increased by 39% due to stable operational performance of Butovskaya and Tikhova mines. In 2Q 2020 coal production was 30% higher than in 1Q 2020.

Coal concentrate output in 1H 2020 reduced by 7% compared with the level of 1H 2019 due to increase of ash content in processed coal.


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