Russian steelmaker Severstal has announced its operational results for the second quarter of the current year. Accordingly, Severstal's crude steel output decreased by three percent to 2.81 million mt in the second quarter compared to the first quarter of this year.
In the second quarter of the current year, Severstal's Russian Steel division’s steel product sales increased by 14 percent year on year to 2.79 million mt. During the second quarter, the mining division of the company, Severstal Resources, saw its iron ore sales volume increase by 18 percent quarter on quarter to 3.96 million mt. The improved economics of the iron ore business resulted in the decision to restart iron ore concentrate external shipments at the company’s iron ore complex in Olcon. This was a key factor behind the 18 percent quarter-on-quarter increase in sales volumes.
As regards consolidated sales (net of intercompany sales), Severstal stated that in the second quarter its coal sales decreased by 41 percent to 696,862 mt, its iron ore sales increased by 50 percent to 1.73 million mt, and its rolled steel product sales increased by 16 percent to 2.14 million mt, all compared to the previous quarter.