Mechel increased steel production by 7 in the first half of the year%

AK&M 18 August 2022 13:59

Mechel increased steel production by 7% to 1.85 million tons in the first half of 2022 from 1.7 million tons a year earlier. Pig iron production increased by 6% to 1.67 million tons from 1.57 million tons. Coal production increased by 7% to 5.98 million tons from 5.6 million tons. This is stated in the company's message.

Coke sales decreased by 16% to 1.15 million tons from 1.37 million tons, hardware – by 1% to 257 thousand tons from 259 thousand tons. Coking coal concentrate was sold in the amount of 2.08 million tons (-12%).

PJSC Mechel (TIN 7703370008) is one of the leading Russian companies. The company's business consists of four segments: mining, metallurgical, ferroalloy and energy. The company unites producers of coal, iron ore concentrate, nickel, steel, rolled products, high-conversion products, thermal and electrical energy. Mechel's products are sold on the Russian and foreign markets.

Mechel's profit under IFRS for 2021 increased 99.7 times to RUB 80.57 billion from RUB 808 million a year earlier. Revenue increased by 51% to RUB 402.07 billion from RUB 265.45 billion, EBITDA increased 2.9 times to RUB 118.9 billion from RUB 41.05 billion.