Moscow, Russia – October, 2005 – Mechel OAO (NYSE: MTL), one of the leading vertically-integrated mining and metals companies, announced today its operational results for the nine months of 2005.
Product |
Nine months of 2005, thousand tonnes |
Nine months of 2005 as compared to nine months of 2004, % |
Coal |
11,670 |
+ 2 |
|
Coking Coal |
6,472 |
- 5 |
|
Steam Coal |
5,198 |
+ 11 |
|
Iron Ore Concentrate |
3,374 |
+ 20 |
|
Nickel |
9 |
- 8 |
|
Coke |
1,963 |
- 11 |
|
Pig Iron |
2,475 |
- 10 |
|
Steel |
4,420 |
-3 |
|
Rolled Products |
3,450 |
+ 3 |
|
Semi-Finished Products |
1,362 |
+ 27 |
|
Long Products |
1,876 |
- 7 |
|
Flat Products |
212 |
- 21 |
|
Forgings |
63 |
- 15 |
|
Stampings |
77 |
+ 82 |
|
Hardware |
441 |
+ 4 | |
Mechel’s Chief Executive Officer Vladimir Iorich commented operational results for the first nine months of 2005: “The negative trends we witnessed in major mining and steel markets in the second quarter continued to affect our nine-month production. The slowdown in the coking coal market, caused by a decrease in the output of a number of Russian coal consumers, prompted our shift to increasing steam coal production. In the steel segment, we maintained our rolled product output by optimizing usage ratios, while reducing raw steel, pig iron, and coke output. We will continue to further improve usage ratios by putting our new continuous casting facilities into operation. At the same time we see positive market trends starting in September, as mining and steel products output has begun to pick up, and expect to fully restore production levels across both segments in response to growing demand.”
|