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Evraz steel production down 7.4% to 10.79 mln tonnes in 9 months — company

MOSCOW, October 16. /TASS/. Evraz reduced steel production by 7.4% year-on-year to 10.79 mln tonnes in 9 months, the company said Friday.

The decrease was a result of the repair works on the Russian steel mills in the first half of 2015.

Metal products output decreased by 6.6% to 10.5 mln tonnes. The output of semi-finished products rose by 15% to 3.4 mln tonnes, construction products - fell by 6.5% to 3.6 mln tonnes, railway products - decreased by 20.7% to 1.15 mln tonnes, flat-rolled products - fell by 29% to 562,000 tonnes, tubular products - by 19% to 633,000 tonnes.

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At the end of the Q3 quarter consolidated steel production reached 3.5 mln tonnes, which is 3% more than in the Q2 of 2015, on the back of completed repair works at Russian steel mills, the report said.

The share of finished steel products in total production rose from 65% in the Q2 of 2015 to 69% in the Q3 of 2015 due to the seasonal increase in demand for the metal construction in Russia and the improvement in demand for line pipe in North America, said Evraz.

Consolidated raw coking coal output and production of coking coal concentrate increased by 36% and 17% respectively due to resumption of full-scale mining at Yuzhkuzbassugol and Raspadskaya on the back of improving domestic demand in Russia.

Raw coking coal production in the reporting period decreased by 3.6% to 14.5 mln tonnes against to the same period in 2014, coking coal concentrate production remained at the level of 10.17 mln tonnes.

Evraz is a vertically integrated steel, mining and vanadium business with operations in the Russian Federation, Ukraine, Kazakhstan, USA, Canada, Czech Republic, and South Africa. EVRAZ is among the top steel producers in the world based on crude steel production of 15.5 mln tonnes in 2014. A significant portion of the company's internal consumption of iron ore and coking coal is covered by its mining operations. The company's consolidated revenues for the year ended December 31, 2014, were $13,061 mln, and consolidated EBITDA amounted to $2,325 mln.

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