Evraz posts higher Q2 sales amid improved demand from construction

Tuesday, 06 August 2019 15:53:06 (GMT+3)   |   Istanbul
       

Russian mining and steelmaking company Evraz Group has announced its operational results for the second quarter and the first half of the current year, stating that in the second quarter its crude steel production increased by 0.5 percent to 3.5 million mt compared to the first quarter of this year, while in the first half its crude steel production rose by 2.7 percent to 6.99 million mt year on year.

In the given quarter, the company’s raw coking coal production rose by 2.2 percent to 6.99 million mt, while its iron ore output fell by 2.8 percent to 3.53 million mt, both quarter on quarter. On the other hand, the company’s raw coking coal production in the first half of the year amounted to 13.8 million mt rising by 21.5 percent and its iron ore output amounted to 7.2 million mt rising by 4.6 percent, both year on year.

Meanwhile, in the second quarter of this year, finished steel sales of Evraz totaled 1.45 million mt, up 11.4 percent from the previous quarter mainly driven by higher sales of construction products, which rose by 10.8 percent year on year, following an increase in demand due to the construction season. In the first half of this year, the company’s finished steel sales totaled 2.75 million mt, up 2.9 percent year on year.


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