Russian steelmaker Severstal has announced its operational results for the fourth quarter and the full year of 2017.
Accordingly, Severstal's crude steel production in the fourth quarter increased by two percent to 3.01 million mt, while its hot metal production rose by five percent to 2.34 million mt, both on quarter-on-quarter basis. In the fourth quarter, consolidated steel product sales of the company declined by two percent quarter on quarter to 2.78 million mt, after a significant stock sell-off in the previous quarter. Meanwhile, in the fourth quarter, the iron ore concentrate sales volume of Severstal Resources increased by six percent to 1.14 million mt, while iron ore pellet sales went up by 39 percent to 3.30 million mt, both compared to the third quarter.
In the fourth quarter of 2017, Severstal’s Russian Steel division increased its export sales volume compared to the previous quarter, due to higher profitability of export deliveries in the fourth quarter. The share of high value-added (HVA) products within the sales portfolio of Russian Steel remained high driven by the continued destocking of large diameter (LD) pipes.
In 2017, Severstal’s crude steel production remained stable at 11.65 million mt, while its hot metal production decreased by two percent year on year to 9.15 million mt.
Also in 2017, Severstal's consolidated steel product sales increased by two percent year on year to 10.92 million mt. In the year in question, the iron ore concentrate sales volume of Severstal Resources amounted to 4.25 million mt, up four percent, and its iron ore pellet sales totaled 11.13 million mt, rising by three percent, both compared to 2016.