Russian steelmaker
Severstal has announced its operational results for the third quarter and the first nine months of the current year. Accordingly,
Severstal's
crude steel production in the third quarter increased by two percent to 2.89 million mt, while its hot metal
production increased by one percent to 2.31 million mt, both quarter on quarter. Steel
production in the given quarter was impacted by scheduled maintenance at the company's blast furnace No. 3 and continuous casters Nos 2 and 4. In the third quarter of the current year,
Severstal's consolidated steel product sales increased by 13 percent quarter on quarter to three million mt, while the iron ore concentrate sales volume of
Severstal Resources rose by five percent quarter on quarter to 1.13 million mt.
In the first nine months of the current year,
Severstal registered a three percent year-on-year growth in
crude steel production to 8.7 million mt, while the company's hot metal
production increased by two percent to 6.9 million mt compared to the same period of the previous year.
In the January-September period,
Severstal's consolidated steel product sales rose by six percent year on year to 8.2 million mt. In the given period, the iron ore concentrate sales volume of
Severstal Resources decreased by eight percent year on year to 3.18 million mt.
Severstal stated that global steel prices have continued to decline, largely impacted by concerns regarding the prospects of the Chinese economy. However, successful increases in ruble-denominated prices reflect improved buying activity in the domestic market, which has partially offset the impact of the devaluation of the ruble.