30th Jan 2020 08:48
(Alliance News) - Russian steelmaker Evraz PLC on Thursday reported increased output for both the last quarter of the year and 2019 as a whole.
Evraz's fourth-quarter steel production was 2.1% higher on the third quarter at 3.4 million tonnes, and the 2019 figure climbed 6.1% to 13.8 million tonnes.
The London-headquartered company said quarterly production was helped by higher volumes from the ZSMK steel plant in Siberia after repairs in the summer ended.
Annual production was boosted by increased pig iron volumes from ZSMK after longer repair periods in 2018 than 2019.
Evraz sold 3.6 million tonnes of steel products in the last quarter, 6.6% higher than the quarter before, while 2019 sales rose 10% year-on-year to 12.2 million tonnes.
Elsewhere, Evraz's iron ore products production for the quarter fell 1.3% quarter-on-quarter to 3.2 million tonnes. The annual figure was 1.8% higher at 13.8 million tonnes.
Iron ore product sales were 69% higher in the quarter to 273,000 tonnes after repairs to a roasting machine at the KGOK operations in Sverdlovsk. The annual figure fell 43% to 1.1 million tonnes.
Vanadium final product sales fell 2.0% quarterly to 3.5 million tonnes, but the annual figure was 4.3% higher at 12.9 million tonnes. Evraz said the fourth-quarter fall was due to lower ferrovanadium demand in North America.
Evraz shares were 1.0% higher on Thursday morning in London at a price of 373.10 pence each.
By George Collard; [email protected]
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