Severstal increased steel production by 6% in the first half of the year – Kommersant
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Severstal increased its steel output by 6% yoy to 5.65 million tonnes in the first half of the year. The output of pig iron increased by 6%, to 5.64 million tons, follows from reporting.
Sales of the company’s steel products increased by 9% year-on-year to 5.47 million tonnes. Sales of semi-finished products decreased by 10%, while sales of commercial steel increased by 19% to 2.38 million tonnes.
According to the results of the second quarter, steel output increased by 9%, and pig iron production – by 7%. Sales of metal products for this period decreased by 2%. Severstal CEO Alexander Shevelev said that in the second quarter, “there was a rather difficult situation” on world markets.
“The fall began in March against the backdrop of lower demand for steel in China. China’s steel production rose throughout much of the first quarter. At the same time, the growth in demand for steel from end consumers was not as high as expected at the beginning of the year,” he said.
Metallurgical companies trying to increase the use of metal structures in construction in the Russian Federation against the backdrop of declining export opportunities. In particular, this year Evraz is expecting a doubling of revenue in this segment to 8 billion rubles, and Severstal has begun to expand its production capacity.
About the situation in the industry – in the material “Kommersant” “Metallurgists pour as it should”.
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