Russian mining and steelmaking company Evraz Group has announced its production results for the first quarter this year, stating that its crude steel production remained stable at 3.54 million mt compared to the fourth quarter last year. In the first quarter of the current year, the company's pig iron production decreased by 1.6 percent to 2.95 million mt, its finished steel production increased by 2.6 percent to 1.86 million mt and coke production declined by 11.7 percent to 164,000 mt, all quarter on quarter.
Evraz said that in Russia overall prices in the first quarter were lower than in the fourth quarter due to the global decline that started last year. Sales prices in the second quarter of the current year are expected to increase in line with the rising trend seen globally since March this year. In addition, domestic prices for steel products will be supported by the start of the construction season.
According to the company's statement, in the given quarter production of iron ore products (sinter and pellets) in Russia remained stable compared to the previous quarter. In particular, the decline in sinter production at Evraz ZSMK was due to reduced consumption caused by lower pig iron production.