The Russian integrated metallurgical and mining company OAO Severstal reported 1Q2014 operating results. Highlights in Severstal's operational report include the main indicators of the Group.
Steel production increased 4 percent quarter-on-quarter due to increased production and sales at the Russian Metallurgical Division. Russian Steel (RSD) increased steel output by 8 percent and pig iron by 3 percent.
At the same time, Severstal North America reduced steel production by 4 percent and pig iron production by 10 percent compared to Q4 2013.
Steel product sales at RSD were down 8 percent from a solid increase in Q4 2013, although export sales expanded slightly in Q1 2014. Steel sales at Severstal North America increased 1 percent QoQ.
At the same time, the pricing environment of the operations was complex. During this period, the strongest price decline occurred for coking coal concentrate at the Vorkutaugol mines, decreasing by 6 percent.
Also, the price of all high value-added products manufactured by Rossiyskaya Stal dropped. Average prices for Russian-made hot-rolled sheet decreased by 5 percent to $ 469 per tonne.
At the same time, Severstal North America recorded a favorable 1% increase in rental prices compared to the previous quarter. Here, the average rental price was $ 835 per ton.
Severstal announces 1Q 2014 production results
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Azovpromstal® 16 April 2014 г. 10:17 |
