EVRAZ Reports YoY Flat Crude Steel Production in 2020

Russian steel maker EVRAZ consolidated crude steel production remained almost flat at 13.63 million tonnes down by 1.3% YoY, despite challenges
EVRAZ Reports YoY Flat Crude Steel Production in 2020
EVRAZ

Russian steel maker EVRAZ consolidated crude steel production remained almost flat at 13.63 million tonnes down by 1.3% YoY, despite challenges created by the COVID-19 pandemic. EVRAZ’s crude steel production in Russia increased by 0.8% Yoy to 12.050 million tonnes. Turbulence in the oil and gas markets led to lower demand, resulting in 15% YoY decrease of production volumes at EVRAZ North America to 1.580 million tonnes.

Sales volumes of semi-finished products increased by 6.1% YoY to 6.183 million tonne, primarily due to a change in the product mix in favour of higher slab and billets sales to export destinations following a decrease in demand in Russia during the COVID-19 pandemic. Sale of finished steel shrank by 10% YoY to 6.879 million tonnes. The decline is mainly attributable to the sale of Palini e Bertoli in 2019, as well as lower tubular and flat-rolled products sales at EVRAZ North America, amid unfavourable market conditions caused by the COVID-19 pandemic.

Production of raw coking coal fell by 21.0% YoY, due to a halt in mining at the Razrez Raspadsky open pit from May to September 2020, the idling of the Mezhegeyugol mine from March 2020 and lower production volumes at the Raspadskaya mine due to challenging geological conditions.

External iron ore product sales rose by 52.7% YoY, primarily as a result of higher shipments to external markets amid lower consumption of pellets by EVRAZ NTMK during a major overhaul of blast furnace no.6, which was successfully launched in Q3 2020.

Sales of final vanadium products declined by 2.2% YoY, mainly due to reduced global FeV demand, following the imposition of COVID-19 restrictions (which were partially compensated by changing the regional sales and product mix to serve the more active Chinese oxide market during 2020).

AD
No stories found.
SteelGuru Business News
www.steelguru.com