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Operating results

Production and shipments

The Company's iron ore output was stable (at around 40.4 million tonnes) in 2018. Output of pellets increased by 10.2% year-on-year to a record 27.7 million tonnes against the background of growing market demand and increased productivity following the major overhauls at Pellet Plants #1 and #3 in 2017. Output of HBI/DRI increased by 12.1% to 7.8 million tonnes in 2018 as a result of the commissioning of HBI-3 Plant at Lebedinsky GOK in July 2017 and also the increased productivity at OEMK’s DRI Plant #2 following modernisation works in 2017.

As a result of increasing the degree of iron ore processing, the proportion of high value-added products (pellets and HBI/DRI) in total sales grew to 71% in 2018 (as opposed to 61% in 2017 and 2016).

Output of iron ore products in 2014– 2018 [million tonnes]

Mining Segment production in 2014–2018 on Lebedinsky GOK
[million tonnes]
Mining Segment production in 2014–2018 on Mikhailovsky GOK [million tonnes]
Output of steel products in 2014–2018 [million tonnes]
Steel Segment production in 2014–2018 on OEMK [million tonnes]
Steel Segment production in 2014–2018 on Ural Steel [million tonnes]

Output of hot metal increased by 12.6% to 3.0 million tonnes in 2018 as a result of the recommissioning of ASU #5ASU – air separation unit after major maintenance works at Ural Steel. In the reporting period, the Company also increased steel output by 6.2% to 5.1 million tonnes as a result of an increase in production and shipments of cast billets from CCM-1CCM – continuous casting machine.

Iron ore shipments in 2014–2018
[million tonnes]

Mining Segment shipments in 2014–2018 from Lebedinsky GOK [million tonnes]
Mining Segment shipments in 2014–2018 from Mikhailovsky GOK [million tonnes]

The proportion of high value-added steel products was maintained in 2018 at the 2017 level of 43% mainly as a result of demand for merchant SBQ (23% of total steel shipments, up 6.5% in 2018) and Plate HVA (13% of shipments, up 8%).

Pig iron and steel shipments in 2014–2018 [million tonnes]

Without intragroup shipments

Mining Segment shipments in 2014–2018 from OEMK [million tonnes]

With intragroup shipments

Mining Segment shipments in 2014–2018 from Ural Steel [million tonnes]

With intragroup shipments

Production and shipments for FY 2018