CONSOLIDATED RESULTS FOR THE 2Q'2021 AND 1H'2021
'Improved results were due to an increase in prices on the Group's nearly entire product range, both in the mining and the steel division. Given the favorable market trends, our enterprises increased sales on numerous of the most profitable products. For example, coking coal concentrate sales to third parties went up by 121% quarter-on-quarter, coke sales increased by 53%, anthracites and PCI by 11%, sales of the universal rolling mill's structural shapes advanced by 41%, rebar by 24%, hardware by 21%, flat products by 15%, forgings by 15% and stampings by 42%.
'The steel division's sales volumes were boosted in 2Q'2021 by high demand for steel products in the heat of the construction season, as well as our measures for improving our operations' stability after the decrease late last year and early this year due to insufficient investment in the last year.
'The boost in coal production and sales contributed to decreased unit costs at our mining facilities. The steel products' costs grew mostly due to increased prices for incoming raw materials such as iron ore concentrate, including pellets, and coke.
'With the money the Group earned in the fairly successful 1Q'2021, we managed to increase our facilities' supply of raw materials, spare parts and components, intensify repairs, maintenance and acquisitions of new mining equipment. These works continue actively in 3Q'2021. We conduct repairs as scheduled, the equipment we ordered and paid for continues to arrive as soon as it is ready.
Contact:
Tel: 7-495-221-88-88
Fax: 7-495-221-88-00
Email: alexey.lukashov@mechel.com
Mechel is an international mining and steel company. Its products are marketed in
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