Share Prices & Company Research

Market News

01 Nov 2019 | 07:56

Evraz output falls in Q3 amid maintenance disruptions, weaker demand

Evraz reported a fall in crude steel production as scheduled maintenance disrupted operations while lower demand weighed on sales.

In the third quarter of 2019, crude steel output decreased by 3.4% quarter-on-quarter, mainly due to 'lower production volumes at Evraz ZSMK amid scheduled capital repairs,' the company said.

Reduced output at its US and Canadian mills following scheduled downtimes and weaker demand also hurt output, the company added.

Steel product sales remained flat quarter-on-quarter, with sales of semi-finished products increasing by 5.6% due to better market condition, but was partly offset by a 3.1% drop in finished products due to 'lower sales of flat-rolled products and railway products,' the company said.

Sales of final vanadium products rose by 9.8% in the quarter, mainly due to 'increased demand in China,' it added.

Looking ahead, the company said that in the fourth quarter, crude steel output was expected to climb by as much as 5% compared with the average level for second and third quarters 2019.

Story provided by StockMarketWire.com
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.