Russian steelmaker Severstal has announced its operational results for the fourth quarter and the full year of 2020.
Accordingly, Severstal’s crude steel production in the fourth quarter last year decreased by four percent quarter on quarter to 2.77 million mt, due to planned short-term maintenance works at blast furnace No. 2. In 2020, the company’s crude steel production decreased by four percent year on year to 11.31 million mt, due to lower volumes of EAF-based steel production following the sale of the Balakovo mini-mill in 2019.
In the fourth quarter last year, Severstal’s hot rolled coil sales fell by 35 percent quarter on quarter to 816,000 mt, while its sales of semi-finished products rose by 119 percent quarter on quarter to 212,000 mt. As a result, Severstal’s total consolidated steel product sales decreased by 18 percent quarter on quarter to 2.45 million mt in the fourth quarter. In the given quarter, the share of the company’s steel shipments that went to the domestic market was 65 percent, while it increased its share of exports of semi-finished and hot rolled products. Severstal’s hot rolled coil sales in 2020 increased by one percent year on year to 4.44 million mt, while its sales of semi-finished products rose by 23 percent year on year to 601,000 mt.
In the fourth quarter last year, Severstal’s iron ore pellet sales rose by eight percent quarter on quarter to 2.83 million mt, while its iron ore concentrate sales decreased by 11 percent quarter on quarter to 1.73 million mt, driven by higher output at Karelsky Okatysh. In 2020, the company’s iron ore pellet sales fell one percent year on year to 10.94 million mt, while its iron ore concentrate sales increased by 13 percent year on year to 7.06 million mt, driven by output growth at the Karelsky Okatysh and Yakovlevskiy mines.
The company anticipates that the positive momentum in steel and raw material prices observed in November and December last year will positively impact the first quarter results in 2021.
