Evraz reports drop in full-year production

Evraz said full-year production was hurt by the disposal of the company’s Vitkovice Steel in the Czech Republic and the shutdown of Evraz Claymont operations in the US.

For the full fiscal year 2014 consolidated crude steel production and output of steel products, net of re-rolled volumes, dropped by 4% and 5%, respectively.

Prices for steel products were also hit by headwinds in global markets and local currencies in Russia and Ukraine.

However, the fourth quarter picked up with production of steel products, net of re-rolled volumes, rising 6%. It was driven by a 31% increase in production of semi-finished products due to higher shipments of more profitable export billets and slabs.