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EVRAZ Announces Trading Update for Q3 of 2019

Steel News - Published on Tue, 05 Nov 2019

Image Source: proactiveinvestors.co.uk
Russian steel maker EVRAZ plc released its trading update for the third quarter of 2019. In Q3 2019, EVRAZ’ consolidated crude steel output decreased by 3.4% QoQ, mainly due to lower production volumes at EVRAZ ZSMK amid scheduled capital repairs. Production was also impacted by reduced output at EVRAZ’ US and Canadian mills following scheduled downtimes and by weaker demand. Total steel product sales remained flat QoQ. Sales of semi finished products increased by 5.6% QoQ due to better market conditions. This was partly offset by a 3.1% QoQ drop in finished products due to lower sales of flat-rolled products due to decreased production at EVRAZ Palini e Bertoli as well as weaker demand from service centres at North America and railway products due to capital repairs at EVRAZ ZSMK and EVRAZ NTMK.

Production of raw coking coal decreased by 9.7% QoQ was mainly following the decision to reduce production at the Razrez Raspadsky open-pit as a response to substantial accumulated stockpiles of raw coal. External sales volumes of coking coal products remained flat QoQ.

External sales of iron ore products descended by 73kt (31.1%) QoQ as production volumes of pellets were down amid capital repairs at EVRAZ KGOK’s roasting machine no 2.

Sales of final vanadium products rose by 9.8% QoQ, mainly due to increased demand in China. This was a result of robust infrastructure sector development, as well as ferrovanadium re-stocking in the rest of the world due to lower prices.

Source :

Posted By : Rabi Wangkhem on Tue, 05 Nov 2019
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