18th Oct 2016 06:47
LONDON (Alliance News) - Russian steel maker Evraz PLC on Tuesday said production in the first nine months of 2016 was considerably lower across the entire portfolio compared to last year.
Production of saleable coke, pig iron, crude steel, and a variety of steel products were all much lower in the first three quarters of 2016 versus a year earlier, with production of semi-finished steel products the only area to report a year-on-year lift.
Production of saleable coke in the first nine months of 2016 amounted to 733,000 tonnes after falling 5.3% from 774,000 tonnes a year earlier. Pig iron production was down 5.2% year-on-year and saleable pig iron production was even lower, dropping 26% to 315,000 tonnes from 425,000 tonnes.
Crude steel production fell 6.1% year-on-year in the first three quarters, totalling 10.1 million tonnes compared to 10.8 million tonnes. Overall production of steel products, net of re-rolled volumes, fell 6.7% to 9.2 million tonnes from 9.9 million tonnes.
Production of semi-finished steel products was the only area to rise year-on-year in the first nine months of 2016, coming in at 3.7 million tonnes compared to 3.5 million tonnes. However, finished steel products amounted to 5.5 million tonnes in the same period, 14% lower than the 6.4 million tonnes produced a year earlier.
Breaking finished products down, production of construction products in the first nine months of the year dropped 15%, railway products declined 5.2%, flat-rolled products reported a 17% drop, tubular products fell 35% and production of other steel products came in 4.8% lower year-on-year.
Looking specifically at the third quarter of 2016, saleable coke production fell 3.6% year-on-year to 280,000 tonnes from 290,000 tonnes, saleable pig iron production soared to 126,000 tonnes from 44,000 tonnes a year earlier and crude steel production was 6.3% higher at 3.4 million tonnes from 3.2 million tonnes.
Steel products production in the third quarter, net of re-rolled volumes, was 5.6% higher year-on-year at 3.0 million tonnes from 2.9 million tonnes. Semi-finished product production was 31% higher year-on-year in the quarter whilst finished product production was 7.7% lower.
By Joshua Warner; [email protected]; @JoshAlliance
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