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IMH operational results for FY 2020

15 February 2021

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

Key operational and sales results summary:

Production, ‘000 tonnes

1Q 2020

2Q 2020

3Q
2020

4Q 2020

 FY 2020

 FY 2019

Change, 2019/2020, %

Pig iron

608

562

730

706

2,607

2,363

10

Coke (6% moisture content)

674

673

704

690

2,741

2,592

6

Coal

573

747

729

564

2,613

2,303

13

Coal concentrate

582

547

616

609

2,355

2,433

(3)

Iron ore

1,207

1,220

1,184

1,179

4,790

4,846

(1)

Iron ore concentrate

520

525

513

508

2,066

2,112

(2)

 

Sales of the main commercial products in physical terms: 

Sales volumes, ‘000 tonnes

2020   

2019

Change, 2019/2020, %

Pig iron

2,615  

2,365

11

Pig iron, export sales

1,101

1,591  

(31)

Pig iron, domestic sales

1,513

774     

96

Coke (6% moisture content)

2,722

2,689

1

Coke (6% moisture content), export sales, net of intragroup sales

839

942

(11)

Coke (6% moisture content), domestic sales, net of intragroup sales

523

409

28

Coke (6% moisture content), intragroup sales

1,360  

1,338  

2

In 2020 production of IMH’s key merchant products significantly increased.

Pig iron output at Tulachermet increased 10% and exceeded 2.6 million tonnes, a historically record high result for the plant operating with two blast furnaces. The results reflected well-balanced maintenance schedule and equipment modernization made on time. In addition, high quality raw materials and combustibles sourced from the Group’s subsidiaries to agglomeration process contributed to the result.

Share of domestic sales of pig iron in the total sales volume amounted to 58%, 25 p.p. up to compare with 2019 which was mainly a result of growing demand from Tula-Steel plant.

Coke production volume increased by 6%. Sales of coke grew as well. In 2H the share of domestic sales rose on the back of progressive recovering of the economy after COVID-19 pandemic situation relief. Increased pig iron production at Tulachermet plant resulted in higher intragroup coke consumption, which additionally contributed to growth of coke sales.

Coal production volume increased by 13% to compare with 2019 which was mainly due to production growth at Tikhova mine. Face transfer at Tikhova mine in December resulted in decline of coal production volume in 4Q 2020 to compare with 3Q 2020. 

Coal concentrate production in 2H 2020 was 9% up to compare with 1H 2020 despite a slight decrease in 4Q output on the back of decline in supplies from Tikhova mine. 

Iron ore mining and concentrate production maintained stable results.

During 2020, all the Group’s enterprises operated normally, in compliance with all the norms and recommendations of the relevant ministries and departments regarding prevention of the spread of infectious diseases. 

The company continues implementation of its production optimization program. In 2020, 387 new projects were approved for implementation which is 51 projects more to compare with 2019. The expected economic effect from implementation of the accepted proposals will amount to RUB 438.1 million. The total accumulated earnings attributed to the program are now around RUB 2,638 million.

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