Russian steelmaker Severstal has announced its financial results for the third quarter and the first nine months of 2012.
In the third quarter, Severstal registered a net profit of $329 million, compared to $155 million in the second quarter, while the company's sales revenues declined by 3.4 percent quarter on quarter to $3.6 billion.
In the first nine months of the current year, Severstal's net profit decreased by 42 percent to $912 million, while its sales revenues amounted to $10.99 billion, declining by 9.1 percent, both year on year.
Regarding the further market outlook, Severstal expects Q4 to be weaker than Q3 in Russia due to the traditionally lower levels of construction activity. Further decreases in export prices are unlikely as they have been declining towards production cost levels.