Evraz reports crude steel output down 14%

Russian mining company Evraz said crude steel output was down 14% quarter on quarter, at 3.4mt.

Evraz blamed the fall on the deconsolidation of its South African producer and repair and maintenance at Russian mills.

The FTSE 250 company said production of steel products, net of re-rolled volumes, went down by 14% quarter-on-quarter as a result of the above factors as well as softer demand for tubular goods in North America.

Consolidated raw coking coal output and production of coking coal concentrate declined by 30% and 8% respectively quarter on quarter due to lower output of both the Raspadskaya coal company and Yuzhkuzbassugol, Evraz said.

Shares in Evraz were down 0.09% to 116.90p at 0828 BST.