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31 Jul 2019 | 08:34

Evraz steel output flat, but sales rise on higher demand in Q2

Evraz said second-quarter steel output was flat quarter-on-quarter, but sales rose 7.7% on higher demand.

Total steel product sales rose by 7.7% QoQ, driven by higher demand, with sales of finished products up 10.1% due to higher sales of construction products in Russia and railway products in North America, the company said.

Raw coking coal production grew by 2.2% QoQ and raw coking coal concentrate output climbed by 21% QoQ to 4.5m tonnes, mainly due to 'greater processing volumes and lower ash content,' it added.

External sales of iron ore products dropped by 49.4% QoQ as volumes were redistributed towards exports amid reduced demand on the domestic market.

Sales of final vanadium products rose by 29.7% QoQ, as lower prices and FeV stocks at end users stimulated spot demand, particularly in the EU, Asia and North America.

At 8:34am: (LON:EVR) Evraz Plc share price was +17.4p at 682.4p

Story provided by StockMarketWire.com
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