PAO Severstal announced its results for the first quarter of 2016, which show an increase in steel production by 6 percent qoq to 2.91 million tonnes.
Steel sales fell 6 percent quarter-on-quarter to 2.46 million tonnes due to seasonal factors and the modernization of the CherMK plant, which will increase total cold-rolled steel capacity by 200,000 tonnes per year and improve product quality. products.
At the same time, Severstal sales of semi-finished steel products decreased by 31 percent quarter-on-quarter, due to a decline in export margins earlier this year. The company's sales of hot rolled coils increased by 4 percent. Sales of cold rolled coils fell 38 percent, and sales of galvanized and other metal coated sheets fell 20 percent.
Steel production of Russian Severstal increased in Q1
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