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Q2 2021 Interim Report LKAB doubles sales and achieves record profits For the second quarter in a row , operating profit at LKAB is at a record high . Global iron ore prices rose further during the quarter and demand for LKAB's products remains good . These results strengthen LKAB's position as it leads the transformation of the iron and steel industry towards a sustainable future . Net sales for the second quarter increased by 98 percent and amounted to MSEK 14,748 ( 7,456 ) . Operating profit increased by 386 percent to MSEK 9,161 ( 1,883 ) . Operations in the second quarter MSEK Net sales Operating profit / loss Net financial income / expense Profit / loss before tax Profit / loss for the period Costs for urban transformation provisions Operating cash flow Investments in fixed assets Depreciation Deliveries of iron ore products , Mt Proportion of pellets , % Production of iron ore products , Mt Return on equity , % Net debt / equity ratio , % Note 3,4 9 9 1 ) Platts IODEX 62 % Fe CFR North China . Q2 2021 14,748 9,161 512 LKAB INTERIM REPORT Q2 / 2021 9,674 7,672 -77 7,111 846 -789 6.9 85 5.9 Q2 Q1 - Q2 Q1 - Q2 Full year 2020 2021 2020 2020 7,456 27,004 15,499 33,914 1,883 16,314 5,075 11,654 656 -124 797 12,452 9,757 2,540 17,212 1,998 13,650 -277 -141 972 10,922 571 -734 1,388 -1,536 6.6 • The production volume for the second quarter was affected by production disruption , mainly at the pelletising plants in Kiruna , as well as extended maintenance shutdowns in connection with coronavirus restrictions , but despite this was on a par with the same period the previous year and amounted to 5.9 ( 6.0 ) Mt. 83 6.0 • The delivery volume was higher than in the same period last year and amounted to 6.9 ( 6.6 ) Mt , with the proportion of pellets at 85 ( 83 ) percent . • Operating profit for the second quarter was nearly five times as high as in the same period last year and amounted to MSEK 9,161 ( 1,883 ) . Higher prices for highly upgraded iron ore products and higher delivery volumes were offset by a lower dollar exchange rate and somewhat higher costs . 898 13.9 86 13.3 39.2 -11.8 4,951 3,878 -351 2,764 1,191 -1,471 13.9 86 13.5 19.4 10.5 -1,396 6,038 2,763 -3,136 28.5 84 27.1 20.8 -3.0 LKAB 5.9 Mt Produced during the quarter 6.9 Mt Delivered during the quarter 85 % Percentage of pellets for the quarter • The average global spot price for iron ore products in the second quarter was USD 200 ( 93 ) per tonne , which was USD 33 higher tha in the previous quarter . The price at the end of the quarter was USD 218 per tonne . Quoted pellet premiums for the quarter were twice as high as in the same period last year . • Operating cash flow was strengthened by the high level of profits and amounted to MSEK 7,111 ( 972 ) for the second quarter . • The return on equity was 39.2 ( 19.4 ) percent . • The net debt / equity ratio was -11.8 ( 10.5 ) percent . 1 ( 20 )