Severstal’s crude steel output declines 28 percent in Q2

Friday, 31 July 2009 16:48:00 (GMT+2)

The Russian steel producer Severstal has issued its operational results for the second quarter of 2009. The figures include the consolidated production data (net of intercompany sales) of all Russia-based and overseas facilities of Severstal.

According to the company release, in Q2 2009 Severstal produced 3.8 million metric tons of crude steel - down 28 percent, 45,277 metric tons of coking coal concentrate - down 88 percent, 81,290 metric tons of coking coal - up 374 percent, and 1.107 million metric tons of iron ore - up seven percent , all compared to Q2 2008.

In addition, in Q2 2009 Severstal saw a 74 percent decrease in its semi-finished steel product output to 139,619 metric tons and a 29 percent drop in its rolled steel product output to 2.87 million metric tons, including 1.35 million metric tons of hot rolled strips and plates - down 22 percent, 611,317 metric tons of cold rolled sheet - down three percent, 424,033 metric tons of galvanized and other metallic coated sheet - down 22 percent, 69,759 metric tons of color coated sheet - up seven percent, and 358,186 metric tons of long products - down 62 percent, all compared to the data for the second quarter of 2008. The total output of downstream products, including metalware products, large diameter pipes and other tubes and pipes and formed shapes, decreased by 33 percent quarter on quarter to 345,345 mt.

In Russia, Severstal's Q2 crude steel production went down by 31 percent year on year to 2.123 million mt, while the crude steel output at its Italian mills decreased by 48 percent year on year to 460,245 mt. Severstal North America's crude steel production in Q2 declined by seven percent to 1.23 million mt.

In the second quarter of 2009, Severstal's average price for rolled products decreased by 41 percent year on year to $582/mt, while its average price for semi-finished products went down by 52 percent year on year to $358/mt.

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