Pig iron producer IMH's H1 earnings plunge 44% on lower prices

Earnings at Industrial Metallurgical Holding (IMH) fell by 44% year-on-year in the first half of 2016 due to declines in the global pig iron and coke prices, parent company Koks Group said on Tuesday August 30.

IMH manages production facilities in Russia’s Kemerovo, Belgorod, Kaluga and Tula regions, including the world’s largest exporter of merchant pig iron, Tulachermet.
Earnings before interest, taxes, depreciation and amortisation (Ebitda) at IMH were 4.52 billion roubles ($69.63 million) in the first six months of the year.

The...

Published

Vlada Novokreshchenova

August 31, 2016

14:30 GMT

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