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Metalloinvest Q3 iron ore output up 1.5 pct y-o-y
October 31, 2012 / 3:55 PM / 5 years ago

Metalloinvest Q3 iron ore output up 1.5 pct y-o-y

MOSCOW, Oct 31 (Reuters) - Russia’s largest iron ore miner Metalloinvest, controlled by the country’s richest man Alisher Usmanov, said on Wednesday its iron ore production was up 1.5 percent to 10.13 million tonnes in the third quarter compared to last year’s period.

Production of iron pellets increased 1.8 percent to 5.69 million tonnes compared to 5.60 million tonnes a year ago but crude steel output was down 1.4 percent to 1.44 million tonnes from 1.46 million tonnes a year ago.

Shipments of iron decreased 0.8 percent during the period to 3.31 million tonnes compared to 3.34 million tonnes, while deliveries of iron pellets rose 14.1 percent to 3.57 million tonnes from 3.13 million tonnes last year.

Metalloinvest has massively increased its supplies to China over the past several years, with Chinese sales n ow accounting for ov er 30 percent of its portfolio.

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