Evraz Q3 consolidated output down 10.3%
Coking coal production up 9.6% to 5.9m tonnes
Evraz
80.89p
17:30 11/04/24
Russian steel maker Evraz on Thursday said third quarter consolidated crude steel output fell by 10.3% against the same period last year to 3.1m tonnes, primarily due to lower pig iron production.
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The company added that it expected fourth quarter crude steel output to be flat quarter on quarter.
Production of raw coking coal climbed by 9.6% to 5.9m tonnes due to increased productivity at the Raspadsky open-pit mine, Evraz said, adding that coking coal product sales dropped by 8.3%, mainly due to logistical limitations amid maintenance works at Russian railroads.
Sales of finished products decreased 1.2%, which was mostly attributable to lower sales volumes of railway products and flat-rolled products, Evraz said.
Sales volumes of semi-finished products slipped by 0.7%, primarily due to lower crude steel production.
External iron ore product sales fell by 15.9%, primarily as a result of increasing stockpiles to ensure stable production volumes and steady shipments to customers during capital repairs of an indurating machine in September-October.
Sales of vanadium products declined by 3.9% QoQ, mainly due to large maintenance at the company's Vanady-Tula operation to reline the roasting kiln refractories as well as replace the grinding mill and regular annual maintenance at the Nikom works in the Czech Republic.