Russia Metalloinvest marks high for annual iron ore pellets as Europe sales rise

Russian mining and steel group Metalloinvest reported higher iron ore pellet output in 2016 to 25.2 million mt, up 5.9% on 2015, as it started the new No. 3 pellet plant at its MGOK complex, as it broke record annual levels for iron metallics and steel production.

For Q4 2016, pellet output at 6.3 million mt was down on Q3’s 6.5 million mt, and up from the 6.1 million mt seen in the year earlier period, according to an operations report.

Higher group DRI and hot metal output later in the year reduced external pellet sales volumes to 3.862 million mt for the final quarter of 2016, down by 2.7% on Q4 2015 shipments. Pellet volumes were stable at 14.535 million mt over 2016.

Metalloinvest saw an increase in sales to Europe as the share of iron ore, pellets and HBI/DRI shipments to Russia shrunk to 61% in 2016 from 66% in 2015.

source: platts.com