Russian steelmaker Severstal has announced its operational results for the fourth quarter and the full year of 2016. Accordingly, Severstal's crude steel production in the fourth quarter decreased by two percent to 2.92 million mt, while its hot metal production decreased by one percent to 2.36 million mt, both quarter on quarter. Despite lower crude steel output, consolidated steel product sales increased by five percent quarter on quarter to 2.78 million mt. An uptick in semi-finished product sales was influenced by stronger demand in export markets and higher availability of production capacity in comparison with the third quarter when the company accumulated steel inventories to standard levels after planned maintenance works. Meanwhile, in the given quarter, the iron ore concentrate sales volume of Severstal Resources declined by 19 percent quarter on quarter to 922,169 mt.
In 2016, Severstal registered a two percent year-on-year growth in crude steel production to 11.63 million mt, while the company's hot metal production increased by one percent year on year to 9.31 million mt.