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EVRAZ steel output down

19 July 2016 07:22

EVRAZ (EVR) said consolidated crude steel output amounted to 3.2 million tonnes in the second quarter of 2016, down 9.9% quarter-on-quarter.

This was primarily due to planned capital repairs at blast furnace 1 at EVRAZ ZSMK in Q2 2016.

Q2 2016 vs Q1 2016 OPERATIONAL HIGHLIGHTS

- Production of steel products, net of re-rolled volumes, decreased QoQ to 2.9 million tonnes, due to planned capital repairs at blast furnace 1 at EVRAZ ZSMK and a higher share of intragroup re-rolled volumes at EVRAZ North America.

- The share of finished steel products in consolidated volumes rose to 65.3% in Q2 2016, up from 56.4% in Q1 2016, due to lower production of semi-finished products in Russia and Ukraine amid improved demand for construction products in both markets.

- Production of railway products in Russia, including rails, was mostly flat. Production in North America declined in response to lower demand from Class I railways amid inventory re-balancing.

- Production of tubular products (large diameter pipes, oil country tubular goods and small diameter line pipes) in North America continued to be affected by pipeline project delays, low oil prices and the seasonal impact of the spring break in Western Canada.

- Production of coking coal concentrate increased by 3.3% in response to improved demand on the domestic and export markets.

Story provided by StockMarketWire.com

Related Company: EVR

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