Severstal’s crude steel output down by five percent in Q2

Friday, 27 July 2012 17:53:19 (GMT+3)   |  
       

Russian steelmaker Severstal has announced its operational results for the second quarter of 2012. Accordingly, Severstal's crude steel output decreased by five percent quarter on quarter to 3.8 million mt in the second quarter.

In the given period, Severstal's Russian Steel division reported a one percent decrease in steel product sales, with Severstal North America posting a two percent decline, both compared to the previous quarter. On the other hand, during the second quarter the mining division of the company, Severstal Resources, saw its iron ore sales volume increase by five percent quarter on quarter to 3.8 million mt.

As regards consolidated sales (net of intercompany sales), Severstal stated that in the second quarter coal sales decreased by one percent to 1.69 million mt, iron ore sales increased by 32 percent to 1.58 million mt and rolled steel product sales decreased by one percent to 3.013 million mt, all compared to the previous quarter.


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