Business news from Ukraine

LARGEST UKRAINIAN MINING AND METALLURGICAL HOLDING METINVEST REDUCES STEEL PRODUCTION IN Q1

Metinvest, the largest Ukrainian mining and metallurgical holding, in January-March this year reduced steel production by 8% compared to the same period last year and by 25% compared to the previous quarter – to 1.962 million tonnes, according to a press release from the parent company Metinvest B.V.
According to the report, production of pig iron decreased by 15% and 31% respectively – to 1.828 million tonnes, coke – by 33% and 28% respectively, to 783,000 tonnes.
Metinvest added that in January-March this year, the group reduced the total production of iron ore concentrate by 3% compared to the same period last year and by 10% compared to the previous quarter, to 2.786 million tonnes.
The output of pellets amounted to UAH 1.281 million, which is 35% less than in Q1 2021, but 34% more than in the previous quarter, while the output of coking coal concentrate in the first quarter of this year increased by 29% compared to Q1 2021, but decreased by 14% from Q4 2021 – to 1.276 million tonnes.
Metinvest is a vertically integrated mining group of companies that manages assets in every link of the production chain from iron ore, coal mining and coke production to the production of semi-finished products and finished products from steel, pipes and coils, as well as production of other high value-added products. The group consists of mining and metallurgical enterprises located in Ukraine, Europe and the United States, has a sales network covering all key global markets.
Metinvest’s main shareholders are SCM Group (71.24%) and Smart-Holding (23.76%), which jointly manage the company.
Metinvest Holding LLC is the management company of Metinvest Group.

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LARGEST UKRAINIAN MINING AND METALLURGICAL HOLDING “METINVEST” IN FIRST QUARTER REDUCES PRODUCTION OF TOTAL CONCENTRATE

Metinvest, the largest Ukrainian mining and metallurgical holding, in January-March this year reduced the production of total iron ore concentrate (IRC) by 21% compared to the same period last year and by 20% quarter-on-quarter to 6.128 million tons.
According to a press release from parent company Metinvest B.V. on operating results for the first quarter of 2022, the decrease in concentrate output was due to the start of full-scale hostilities on the territory of Ukraine, which, in turn, led to logistical restrictions against the backdrop of blocking Black Sea ports, as well as a sharp decrease in intragroup consumption by Mariupol plants.
According to the results of January-March of the current year, the group reduced the production of marketable iron ore products by 16% compared to the same period last year – to 4.067 million tons, which corresponded to the output in the previous quarter.
During this period, Metinvest reduced the production of pellets by 35% compared to the same period last year, to 1.281 million tons, mainly due to a sharp decrease in intra-group consumption, optimization of the portfolio of orders at the Northern Mining and Processing Plant. However, compared to the previous quarter, their output increased by 34% due to a scheduled overhaul of the roasting machine at the Central Mining and Processing Plant in the 4th quarter of 2021.
Salable concentrate production decreased by 10% to 2.786 million tons, mainly due to lower production at Inguletsky GOK.
In the first quarter of 2022, the total production of coking coal concentrate decreased by 14% to 1.276 million tons as a result of a decrease in production by the Pokrovskaya Coal Group due to a decrease in the number of personnel and disruption of supply chains after the outbreak of hostilities in Ukraine. By the first quarter of 2021, growth was 29% due to the consolidation of the Pokrovskaya Coal Group.
The production of coal concentrate at the mines of the United Coal Company (USA) in Q1-2022 decreased by 85 thousand tons compared to Q1-2021 due to the deterioration of geological conditions.
As reported, according to the results of 2021, Metinvest increased the total production of iron ore concentrate (IRO) by 3% compared to the previous year – up to 31.341 million tons, pellets by 18% – up to 5.811 million tons and the total production of coking coal concentrate – by 92 %, up to 5.542 million tons.
Metinvest is a vertically integrated mining group of companies that manages assets in every link of the production chain from iron ore and coal mining and coke production to the production of semi-finished products and finished products from steel, pipes and coils, as well as the production of other high value-added products. The group consists of mining and metallurgical enterprises located in Ukraine, Europe and the USA, has a sales network covering all key global markets.

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METINVEST REDUCED PRODUCTION OF STEEL, PIG IRON, COKE IN FIRST QUARTER

“Metinvest”, the largest Ukrainian mining and metallurgical holding, in January-March of this year, reduced steel production by 8% compared to the same period last year, and by 25% compared to the previous quarter – to 1.962 million tons, n pig iron – by 15% and 31%, to 1.828 million tons, the total production of coke – by 33% and 28%, respectively, to 783 thousand tons.
According to a press release from parent company Metinvest B.V. on operating results for the first quarter of 2022, in January-March of this year, the group reduced the total production of iron ore concentrate (IOR) by 3% compared to the same period last year and by 10% quarter-on-quarter to 2.786 million tons, pellets by 35% and increased by 34%, respectively – up to 1.281 million tons, the total production of coking coal concentrate – increased by 29% and reduced by 14%, respectively, to 1.276 million tons.
As reported, according to the results of 2021, Metinvest increased steel production by 15% compared to 2020 – up to 9.533 million tons, pig iron – also by 15%, up to 9.709 million tons, but reduced the total production of coke by 5% – to 4.551 million tons. In 2021, Metinvest increased the total production of iron ore concentrate (IRO) by 3% compared to the previous year – up to 31.341 million tons, pellets by 18% – up to 5.811 million tons and the total production of coking coal concentrate – by 92%, up to 5.542 million tons.
Metinvest is a vertically integrated mining group of companies that manages assets in every link of the production chain from iron ore and coal mining and coke production to the production of semi-finished products and finished products from steel, pipes and coils, as well as the production of other high value-added products. The group consists of mining and metallurgical enterprises located in Ukraine, Europe and the USA, has a sales network covering all key global markets.
Metinvest’s main shareholders are the SCM group (71.24%) and Smart Holding (23.76%), which jointly manage the company.
Metinvest Holding LLC is the management company of the Metinvest group.

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PRODUCTION OF ŠKODA CARS IN UKRAINE WILL RESUME IN JUNE

The Eurocar plant (Solomonovo, Transcarpathian region) will resume production of ŠKODA cars from June this year, which was suspended with the start of Russia’s military aggression in Ukraine, the company’s press service reported.
“The Eurocar company, the official distributor of ŠKODA cars in Ukraine, announces the resumption of taking orders and production. The Eurocar plant in Transcarpathia will start working again in June,” the distributor’s website said on Thursday.
Prices and configurations of cars available for order are posted on the distributor’s website, the official delivery time is up to 280 days, but in fact it will depend on the number of orders in the queue and may be less. Vehicles in stock that were in stock until February 24th are also available for purchase.
“ŠKODA dealerships work depending on the situation in the regions where they are located. The warranty for cars during martial law in Ukraine is maintained in case of untimely completion of scheduled maintenance, provided that the level of technical fluids is observed,” the message says.
The Eurocar plant, the official manufacturer of Škoda cars in Ukraine, began producing cars in 2001, investments in the creation of the plant amounted to $250 million. Capacities for small-scale assembly of cars were created, buildings for welding and painting shops were built.
According to the Ukravtoprom association, in 2021 the plant assembled 3,476 vehicles, which is 2.7% more than a year earlier.
As reported, at present, the Eurocar plant operates as a humanitarian logistics hub, as well as a center for helping employees, with the involvement of a network of contacts of foreign partners as external support.
According to the data of the National Commission for Securities and Stock Market (NSSMC), as of the fourth quarter of 2021, more than 68.84% of the shares of Eurocar JSC are owned by Atoll Holding JSC, the beneficiary-controller of which is Oleg Boyarin, another 20% are owned by LLC “Prostir Capital” (Kyiv), 10% – Polish “Iberia Motor Company”.

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DARNITSA LAUNCHES PRODUCTION OF DRUGS AGAINST RADIATION

Darnitsa pharmaceutical company (Kyiv), within the framework of cooperation with the Ministry of Health of Ukraine and the National Security and Defense Council, has registered and produced the drug Potassium Iodide-125-Darnitsa, designed to protect people from radiation, Dmytro Shymkiv, the chairman of the board of directors of Darnitsa Group, wrote about this on Facebook.
He said that the drug was created in accordance with the regulations for iodine prophylaxis in the event of a radiation accident.
In addition, Shymkiv said that last week Darnitsa donated 525,000 packages (5.25 million tablets) from the first batch of Potassium Iodide-125-Darnitsa to the public health center of the Ministry of Health for free. This will make it possible to carry out iodine prophylaxis if necessary for more than 5 million people.
Potassium iodide is used to protect the thyroid from radiation buildup. The risk of radiation damage to the thyroid gland can be reduced or even leveled with the timely appointment of iodine prophylaxis. The optimal effect of iodine prophylaxis is achieved with preventive intake of potassium iodide for 6 hours or less, as well as simultaneously with the intake of radioactive isotopes of iodine or entering the contaminated zone.

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NFP INCREASES PRODUCTION BY 15.5% IN JAN-MARCH

Nikopol Ferroalloy Plant (NFP, Dnipropetrovsk region) in January-March of this year increased its output by 15.5% compared to the same period last year, to 148,930 tonnes.
As the Ukrainian Association of Producers of Ferroalloys and Other Electrometallurgical Products (UkrFA) told Interfax-Ukraine, over three months NFP increased production of silicon manganese by 22.7%, to 143,480 tonnes, but reduced ferromanganese and other ferroalloys – by 54.7%, to 5,450 tonnes (including 4,970 tonnes of ferromanganese).
Nikopol Ferroalloy Plant is Ukraine’s largest ferroalloy smelter. It uses imported and domestic raw materials for production of ferroalloys.
Nikopol plant is controlled by EastOne Group, established in autumn 2007 as a result of restructuring of Interpipe Group, and Privat Group, both based in Dnipro.

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