(000 metric tonnes)9M'129M'11change
Semi-finished products1,9662,599-24%
Iron311368-15%
Slabs1,0431,920-46%
Square billets61231197%
Finished products6,6227,126-7%
Flat products4.4414,978-11%
Long products1,9041,952-2%
Rail products27719641%
Tubular products364484-25%
Large diameter pipes326448-27%
Other pipes38366%
Total8,95210,209-12%
(000 metric tonnes)Q3'12Q2'12change
Semi-finished products660721-8%
Iron1101019%
Slabs339348-3%
Square billets211272-22%
Finished products1,9252,558-25%
Flat products1,2051,811-33%
Long products631658-4%
Rail products89890%
Tubular products6581-20%
Large diameter pipes5358-22%
Other pipes1213-8%
Total2,6503,360-21%
In Q3 2012, Metinvest's production of semi finished products fell by 8% QoQ mainly due to a decline in the production of square billets at Yenakiieve Steel by 61,000 tonnes.
During 9 months 2012, the share of finished products (including tubular products) in the volume of total metal products was 78%, up 3 p.p YoY.
The two main reasons for the decline in finished product volumes during 9 months 2012 were a drop in sales for flat products by 537,000 tonnes due to the strong competition, the continued decline in demand and price for plates, as well as a fall in production of large diameter pipe output by 122,000 tonnes following the completion of the Beineu Shymkent project (Kazakhstan) and the postponement of the next phase of the East West project (Turkmenistan). A similar trend continued in Q3 compared to Q2 2012; a fall in flat product output by 606 thousand tonnes was primarily a result of a decline in the plate production at Ilyich Steel (down 218,000 tonnes), Azovstal (down 82,000 tonnes) and at European rolling mills (down 46,000 tonnes), as well as a decrease in coil output at Ilyich Steel (down 249,000 tonnes).
Long product output remained relatively stable YoY due to continued demand in Ukraine, the CIS and the Middle East during 9 months 2012. Metinvest increased output of rail products by 81,000 tonnes (+41% YoY due to the increased orders from the CIS countries (Uzbekistan and Kazakhstan) and Georgia during 9 months 2012. In Q3, rail product output stayed unchanged QoQ at 89,000 tonnes.