Russian steelmaker Severstal has announced its operational results for the first quarter of the current year. Accordingly, Severstal's crude steel production in the first quarter increased by one percent to 3.03 million mt compared to the fourth quarter of the previous year.
In the first quarter, Severstal's total consolidated steel product sales rose by three percent quarter on quarter to 2.86 million mt. Meanwhile, the company reduced steel product stock levels at its export subsidiaries in the first quarter of this year.
In the first quarter this year, Severstal's Russian Steel division’s steel product sales increased by three percent to 2.87 million mt compared with the previous quarter. In the given quarter, Severstal increased its sales of hot-dip galvanized and cold rolled coil products to the US market and its sales of hot rolled coil to European destinations due to the attractive pricing environment.
In the given quarter, Russian Steel division’s sales volume of large diameter pipe declined by 28 percent quarter on quarter, followed by destocking of finished goods in the second half of 2017 at Izhora Pipe Mill. In March this year, Izhora Pipe Mill won a tender to supply around 165,000 mt of large diameter pipes for Russian gas monopoly Gazprom’s projects during the 2018-2019 period.
In the first quarter this year, Severstal's iron ore pellet sales declined by 28 percent to 2.37 million mt, while its iron ore concentrate sales volumes rose by 14 percent to 1.29 million mt, both on quarter-on-quarter basis. Total coal sales volumes of the company decreased by 17 percent from the previous quarter to 986,249 mt.