Severstal steel output rises 5% to 8.35 mln tns in January–September

MOSCOW, Oct 23 (PRIME) -- The steel output of Russian metals producer Severstal increased by 5% on the year to 8.35 million tonnes in January–September, the company said in a statement on Monday.

Production of cast iron rose by 3% to 8.35 million tonnes, of steel by 5% to 8.35 million tonnes thanks to a higher loading of equipment.

Steel sales remained flat at 8.16 million tonnes.

The company expects steel demand to rise by 6% in 2023 to 45.8 million tonnes with demand from the construction and machinery industries being the key driver, CEO Alexander Shevelyov said as cited in the statement.

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