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Trading statements

Evraz output falls

19 July 2017 07:26

Evraz's consolidated crude steel output fell by 9.5% quarter-on-quarter to 3.3 million tonnes in Q2.

The group said this was primarily due to planned capital repairs at EVRAZ ZSMK's oxygen steelmaking converter no. 5 and blast furnace no. 2, as well as planned capital repairs at EVRAZ DMZ's oxygen-converter plant.

Production of steel products, net of re-rolled volumes, decreased by 8.0% quarter-on-quarter to 3.0 million tonnes as a result of reduced output of semi-finished products amid planned capital repairs at EVRAZ ZSMK.

The share of finished steel products in consolidated volumes rose to 63.8% in Q2 2017, up from 55.6% in Q1 2017, due to lower output of semi-finished products in Russia and Ukraine.

Production of construction products increased by 10.5% quarter-on-quarter, as demand for construction products improved with the beginning of construction season.

Production of railway products was down 1.9% due to changed product mix on Russian facilities, which was partially offset by higher output in North America (up 10.1% quarter-on-quarter) due to marginally increased demand for rails driven by Class I railroads finalised destocking.

Output of flat products rose by 8.4% quarter-on-quarter, mostly following planned maintenance outage at EVRAZ Palini e Bertoli in Q1 2017 as well as due to strengthening demand in North America.

Consolidated raw coking coal output increased by 7.9% following a planned longwall repositioning at the Raspadskaya mine in Q1 2017.

In addition, open-pit mining operations were started at the site of the Raspadskaya-Koksovaya mine to produce deficit OS (semi-hard) coking coal grade.

Story provided by StockMarketWire.com

Related Company: EVR

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