Severstal increases crude steel output in Q1

Monday, 30 April 2012 17:22:50 (GMT+3)   -  
SteelOrbis News

Russian steelmaker Severstal has announced its operational results for the first quarter of 2012. Accordingly, Severstal's crude steel output increased by six percent quarter on quarter to 3.989 million mt in the first quarter.

In the given period, Severstal's Russian Steel division reported a two percent increase in steel product sales, with Severstal North America posting a 19 percent rise, both compared to the previous quarter. On the other hand, during the first quarter the mining division of the company, Severstal Resources, saw its iron ore sales volume decrease by five percent quarter on quarter to 3.650 million mt.

As regards consolidated sales (net of intercompany sales), Severstal stated that in the first quarter coal sales decreased by six percent to 1.707 million mt, iron ore sales declined by 23 percent to 1.201 million mt but rolled steel product sales increased by six percent to 3.024 million mt, all compared to the previous quarter.

Meanwhile, Severstal has announced that it has won another tender for the supply of rolled steel products to Russia's State Atomic Energy Corporation (ROSATOM). Under the contract, Severstal will supply 280 mt of rolled steel products in April-May this year. The first consignment of the total tonnage of 640 mt was shipped to the company at the beginning of this year. The rolled steel products produced at Severstal's Cherepovets Steel Mill are used for the construction of block No. 2 of the Novovoronezh Nuclear Power Plant II.

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