MOSCOW, October 21. /TASS/. Mining and metallurgical corporation Severstal for January - September 2024 reduced steel output by 8% compared to the same period last year to 7.7 mln tons. Meanwhile, pig iron production fell by 14% to 7.17 mln tons, the company said in a statement.

Severstal's sales of metal products for the reporting period amounted to 7.93 mln tons, which is 3% less than last year due to a decrease in sales of semi-finished products during repairs.

At the same time, steel production in the Q3 2024 decreased by 8% year-on-year to 2.47 mln tons and pig iron production by 11% to 2.4 mln tons due to repairs in blast furnace production. Sales of metal products increased 3% to 2.77 mln tons compared to Q3 2023. Sales of high value-added (HVA) products increased 5% year-on-year to 1.48 mln tons due to increased demand for construction pipe products and polymer-coated rolled products.

Severstal is a vertically integrated mining and metallurgical company and one of the largest steel producers in Russia.