19th Jul 2016 06:28
LONDON (Alliance News) - Evraz PLC on Tuesday said all of its units reported a drop in production during the first half of 2016 as the Russian company produced less steel, steel products and coking coal concentrate.
Crude steel production in the first half of this year was down 7.6% to 6.7 million tonnes from 7.3 million a year earlier, whilst production of steel products, net of re-rolled volumes, fell 8.0% to 6.2 million tonnes from 6.7 million.
Evraz said production was down due to a planned maintenance shutdown at one of the furnaces in Russia, hitting both steel and steel product production.
Steel production was down 9.9% in the second quarter of the year compared to the first whilst production of steel products was over 13% lower in the second quarter compared to the first.
Coking coal concentrate production also experienced a steep decline in production during the half, falling 21% to 454.0 tonnes from 571.0 tonnes a year before. However, coking coal production did rise over 77% in the second quarter compared to the first.
By Joshua Warner; [email protected]; @JoshAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Evraz