20th Apr 2016 06:29
LONDON (Alliance News) - Evraz PLC on Wednesday published a mixed set of production results covering the first quarter of 2016, but said coking coal, pig iron and prices for its steel products have continued to fall since the start of the year.
The steel maker and mining company operating in Russia said consolidated crude steel output "remained stable" in the first quarter of 2016, amounting to 3.5 million tonnes, adding that its Russian steel mills are currently running at full capacity.
That is down 0.5% from the final quarter of 2015 and also 0.5% lower than a year earlier.
First quarter production of steel products, net of re-rolled volumes, was a smidgen higher quarter-on-quarter at 3.3 million tonnes, but that was 7.7% lower than a year earlier.
Production of finished steel products in the period amounted to 1.9 million tonnes, which was 2.6% higher than the previous quarter but 16% lower than a year ago. Production of semi-finished steel products amounted to 1.4 million tonnes, down 2.9% quarter-on-quarter but up 5.0% from a year ago.
Coking coal concentrate production rose 4.6% quarter-on-quarter to 3.6 million tonnes, which was also up 6.2% from a year earlier.
By Joshua Warner; [email protected]; @JoshAlliance
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