29th Jul 2021 11:43
(Alliance News) - Evraz PLC on Thursday reported mixed, but relatively consistent, sales and production figures for the first half.
Evraz is a London-based mining company that produces steel, iron, vanadium and coal from its assets in Russia, North America, Kazakhstan and the Czech Republic.
In the first half that ended June 30, iron ore products output nudged up 1.3% to 7.14 million tonnes from 7.05 million tonnes in the same period a year prior.
Cash costs for iron ore products reached USD40 per tonne in the first half, compared to USD37 per tonne a year before.
Meanwhile, first half crude steel production edged down 2.2% year-on-year to 6.8 million tonnes from 6.9 million tonnes.
As steel product sales eased down 4.6% - to 6.3 million tonnes, from 6.6 million - average steel sale prices jumped 47% to USD646 per tonne in the first half compared to USD438 a year prior.
Vanadium sales and output both rose in the first half. Final product sales leapt 18% to 6.6 million tonnes of vanadium from 5.6 million. Output only rose slightly to 10.0 million tonnes from 10.1m tonnes the year before.
Total mined raw coking coal output hit 11.6 million tonnes, 17% higher than the 9.9 million taken in the first half of 2021.
Although coking coal sales fell to 5.6 million tonnes - down 8.1% from 6.1 million - the average selling price soared to USD285 per tonne in the first half of 2021, up 79% from USD159.
Shares in Evraz were trading up 1.0% at 636.00 pence each in London on Thursday morning.
By Scarlett Butler; [email protected]
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