Russian steelmaker Severstal has announced its operational results for the third quarter and the first nine months of the current year.
Accordingly, Severstal’s crude steel production in the third quarter this year increased by three percent quarter on quarter to 2.89 million mt, following the completion of maintenance works at blast furnace facilities in the previous quarter. In the first nine months this year, the company’s crude steel production decreased by 6.3 percent year on year to 8.55 million mt, due to lower production volumes of EAF steel following the disposal of the Balakovo mini-mill in July 2019.
In the third quarter this year, Severstal’s hot rolled coil sales rose by seven percent quarter on quarter to 1.26 million mt, while its sales of semi-finished products fell by three percent quarter on quarter to 97,000 mt. As a result, Severstal’s total consolidated steel product sales increased by 18 percent quarter on quarter to 3.01 million mt in the third quarter, reflecting production growth, a lower share of export shipments compared to the previous quarter, and reduced finished steel stocks. Severstal’s hot rolled coil sales in the first nine months of the current year increased by ten percent year on year to 3.64 million mt, while its sales of semi-finished products rose by 39 percent year on year to 389,000 mt.
In the third quarter this year, Severstal’s iron ore pellet sales rose by three percent quarter on quarter to 2.61 million mt, while its iron ore concentrate sales increased by three percent quarter on quarter to 1.96 million mt, driven by higher output at Karelsky Okatysh and Olcon. In the first nine months of the current year, the company’s iron ore pellet sales fell one percent year on year to 8.11 million mt, while its iron ore concentrate sales increased by 14 percent year on year to 5.33 million mt, driven by output growth at Karelsky Okatysh and the Yakovlevskiy mines. The company expects to achieve total production of around 2 million mt of iron ore concentrate at the Yakovlevskiy mine in the financial year 2020.
