17th Jan 2014 08:51
LONDON (Alliance News) - Russian Steel maker Evraz PLC Friday said production of crude steel and steel products increased slightly in 2013 after production was flat in the fourth quarter, but it reported sharp falls in prices of steel products.
In its latest production company, Evraz said production of crude steel rose 1% in the whole of 2013, and production of steel products was up 2%, after output of both stayed flat in the fourth quarter compared with a year earlier.
However, it warned that prices for all its steel products fell for the year, even though prices for semi-finished products and railway products rose in the fourth quarter.
It said production of saleable iron ore products decreased by 1% in 2013 as it continued restructuring the unit, selling EVRAZ VGOK and certain mines of Evrazruda. Production was down 10% in the fourth quarter due to the disposal.
Its coking coal business increased output of raw coking coal by 22% on a pro-forma basis during the year. Output was up 5% in the fourth quarter.
Prices for its iron ore products rose slightly in the fourth quarter, while average prices for Russian-produced coking coal were broadly flat compared with the third quarter. Prices were down for both in 2013 as a whole.
Average selling prices
USD/tonne (ex works) | 2013 | 2012 | Q4 2013 | Q3 2013 | |
Coke | 160 | 191 | 137 | 150 | |
Pig iron | 301 | 353 | 317 | 292 | |
Steel products |
|
|
|
| |
Semi-finished products | 401 | 457 | 399 | 374 | |
Construction products | 649 | 677 | 632 | 639 | |
Railway products | 852 | 891 | 847 | 829 | |
Flat-rolled products | 560 | 607 | 296 | 393 | |
Other steel products | 658 | 729 | 645 | 634 |
Evraz shares were down 0.9% at 103.2 pence early Friday.
By Steve McGrath; [email protected]; @SteveMcGrath1
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