News // Coal
Mechel started sales to the new markets of India and Vietnam and ups sales to China
04 August 2016 , 14:26Neftegaz.RU638
Mechel, one of Russia's leading mining and metals companies, announced on August 4, 2016, their 1H2016 operational results.
According to the statement of the Mechel´s CEO Oleg Korzhov, the coal industry demonstrated stable demand on both global and domestic markets, with a growth registered in both quarter benchmarks and spot prices.
Korzhov announced that Mechel increased overall mining by 4% and redirected some of their chief product — coking coal concentrate — to China, increasing company sales to this country nearly by half quarter on quarter.
Mechel also made several coking coal shipments to India and Vietnam, which are new markets for the company.
The 16% increase in anthracite sales was due to a favorable price situation in Europe (Germany, the Netherlands and Belgium).
Steam coal sales went up by 9% due to an increase in shipments from Elga Coal Complex and Southern Kuzbass Coal Company’s facilities.
The steel division of Mechel increased production quarter-on-quarter — steel production went up by 2%, pig iron by 3%.
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