Russia’s leading steelmaker Severstal has announced that crude steel production for 2022 totaled 10.7 million tonne tonnes, 8% lower YoY, although hot metal output was flat YoY. Consolidated steel sales fell by 2% YoY to 10.9 million tonnes in 2022.Hot Metal Production - 10.972 million tonnes, flat YoYCrude Steel Production - 10.692 million tonnes, down 8% YoYSteel Products Sales including Semis - 10.920 million tonnes, down 2% YoYSemis Sales - 1.568 million tonnes, up 11% YoYCommercial Sales - 4.591 million tonnes, flat YoYHVA Products Sales 4.761 million tonnes, down 6% YoYIron Ore Products Sales 2.342 million tonnes, down 46% YoYCrude steel reduction was mainly due to converter repairs in Q2 2022 and a reduced EAF utilization rate due to an increase in scrap prices in 3Q 2022.Severstal’s CEO Mr Alexander Shevelev said “The year 2022 was a serious test for our Company. The ban on steel and raw material exports to European markets, the disruption of supply chains, growing competition in domestic markets, the global economic slowdown and declining steel prices, resilience of demand for Russian steel and rouble volatility required quick and proactive decision-making, and a readiness to take risks and to operate with limited visibility and reduced budgets. I am proud of the fact that, in this environment, our vertically integrated business model combined with a relentless focus on operational enhancements and cost reduction as well as our strong corporate culture helped us navigate a challenging year while achieving decent results.”
Russia’s leading steelmaker Severstal has announced that crude steel production for 2022 totaled 10.7 million tonne tonnes, 8% lower YoY, although hot metal output was flat YoY. Consolidated steel sales fell by 2% YoY to 10.9 million tonnes in 2022.Hot Metal Production - 10.972 million tonnes, flat YoYCrude Steel Production - 10.692 million tonnes, down 8% YoYSteel Products Sales including Semis - 10.920 million tonnes, down 2% YoYSemis Sales - 1.568 million tonnes, up 11% YoYCommercial Sales - 4.591 million tonnes, flat YoYHVA Products Sales 4.761 million tonnes, down 6% YoYIron Ore Products Sales 2.342 million tonnes, down 46% YoYCrude steel reduction was mainly due to converter repairs in Q2 2022 and a reduced EAF utilization rate due to an increase in scrap prices in 3Q 2022.Severstal’s CEO Mr Alexander Shevelev said “The year 2022 was a serious test for our Company. The ban on steel and raw material exports to European markets, the disruption of supply chains, growing competition in domestic markets, the global economic slowdown and declining steel prices, resilience of demand for Russian steel and rouble volatility required quick and proactive decision-making, and a readiness to take risks and to operate with limited visibility and reduced budgets. I am proud of the fact that, in this environment, our vertically integrated business model combined with a relentless focus on operational enhancements and cost reduction as well as our strong corporate culture helped us navigate a challenging year while achieving decent results.”
