In January-June the largest pig iron manufacturer in Russia – Tulachermet – received 721 million rubles of net losses as opposed to a net profit of 2.47 billion rubles in H1 2018.
In Q1 losses totaled 228.4 million rubles and in Q2 – 492 million rubles.
Revenue in 6 months dropped by 2%, to 28.5 billion rubles, with sales losses amounting to 280 million rubles as opposed to a profit of 3.2 billion rubles in H1 2018.
At the same time pig iron output increased by 1.9%, to 1.223 million tons. Average prices in Q2 grew by 23%, to $295 per ton FCA. (Ukrainian metal)