Severstal increases rolled steel product sales in 2011

Tuesday, 31 January 2012 15:18:20 (GMT+2)

Russian steelmaker Severstal has announced its operational results for the fourth quarter and full year of 2011. Accordingly, Severstal's crude steel output decreased by six percent quarter on quarter to 3.7 million mt in the fourth quarter. In 2011, Severstal's crude steel output amounted to 15.2 million mt, up four percent compared to 2010.

In the fourth quarter of last year, Severstal's Russian Steel division reported a 17 percent decrease in rolled steel sales, with Severstal North America posting a five percent drop, both compared to the previous quarter. On the other hand, during the fourth quarter the mining division of the company, Severstal Resources, saw its iron ore sales volume decrease by seven percent quarter on quarter to 3.8 million mt.

In 2011, the rolled steel sales volume of Russian Steel division increased by two percent compared to 2010, while Severstal North America increased its rolled steel sales volume by six percent year on year.

As regards intercompany sales, Severstal stated that in the fourth quarter coal sales increased by six percent to 1.8 million mt, iron ore sales decreased by 15 percent to 1.56 million mt and rolled product sales decreased by 13 percent to 2.85 million mt, all compared to the previous quarter.

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