Mechel increased cast iron production by 2%, steel-by 5%

In Q3 the metallurgical segment of Mechel increased the volumes of cast iron production by 2%, steel – by 5% against Q2.

In Jan-September 2015 Mechel increased coal extraction by 2% to 17.4 mln tons and steel production by 2% to 3.24 mln tons against Jan-September 2014. Cast iron production rose by 5% to 3.059 mln tons.

In Q3 coal extraction was not growing due to the continual unfavorable situation in the market. Mechel said that in Q3 the volume of products sale with high added value rose by 24%.

The CEO of Mechel, O. Korzhov, said that the company increased the sale of steel blank by 81% which was due to the sale at the stock houses of the Chelyabinsk metallurgical plant. A significant volume of blank was sold for export as the rouble’s devaluation increased the profitability of sales overseas.

The company also mentioned a significant growth of sale of metalware products and announced of the recovery of this segment of the market. Mechel also increased the sale of beat but reduced the sale of stamps.