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Metinvest reduces steel exports to Europe 21% on year in 2020
Journal Staff Report

KYIV, Feb 17 - Metinvest B.V. in 2020 reduced sales of products in Europe by 21% compared to the previous year, to $2.851 billion.

According to the audited consolidated financial results for 2020, sales in Europe fell mainly due lower sales prices for steel products. This was also affected by a decrease in sales of semi-finished products by 31% and iron ore products by 48%. As a result, the region's share in total revenue decreased by 7 percentage points (p.p.) compared to the previous year, to 27%.

In 2020, revenue in Ukraine decreased by 7%, to $2.939 billion, mainly due to a decrease in the average price for metal products and coke, as well as a 26% reduction in pellet sales. The decrease in revenues was partially offset by an increase in the supply of long products by 23%, coke by 14% and iron ore concentrate by 43%. In general, the share of Ukraine in the consolidated revenue decreased by 1 p.p. compared to 2019, to 28%.




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