Severstal’s steel output falls 2% to 11.847 mln tns in 2019
MOSCOW, Jan 17 (PRIME) -- The steel output of Russia’s Severstal contracted by 2% on the year to 11.847 million tonnes in 2019 hurt by lower output in the second half of the year after the sale of a long products plant, the company said in a statement on Friday.
The negative effect of the sale was partially offset by higher production capacity of equipment.
Cast iron output went up 4% on the year to 9.486 million tonnes 2019.
Consolidated sales of steel products remained almost flat at 11.154 million tonnes.
In October–December, steel output shrank 10% on the quarter to 2.714 million tonnes, while cast iron production went down 4% to 2.361 million tonnes. Consolidated sales of steel products fell by 6% to 2.651 million tonnes.