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Mechel reports higher PCI demand

RUSSIAN coal and steel producer Mechel has matched its first-half coal production with the same period last year.

Staff Reporter
Mechel reports higher PCI demand

The company produced 13.4 million tons in H12013, almost mirroring production of 13.38Mt in H12012.

Sales increased for Mechel’s coking coal during the second quarter of 2013, up 2% on the previous quarter but decreased 8% for H1 when compared with 2012.

“The mining segment’s key enterprises – Southern Kuzbass Coal Company and Yakutugol Holding Company – maintained the volumes of coking coal production and sales at last year’s level,” Mechel chief executive officer Evgeny Mikhel said in the company’s operational report.

"The 8% decrease in overall coking coal sales in the first half of this year compared to the same period last year was due to our revision of production plans for Mechel North America as prices on our key markets decreased.”

Combined sales of anthracites and pulverized coal injection coal grew by more than 6% in the first half as they remained "in demand by international steelmakers due to global expense cuts", Mikhel said.

Anthracite sales were down 16% for H1 but PCI coal sales were up 34% to 1.4Mt for the period.

Mikhel added that as part of Mechel's long-term strategy, the company was expanding its client base and entering new markets for these coals.

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