Severstal’s steel output falls by 2% to 2.807 mln tns in Apr–Jun

MOSCOW, Jul 13 (PRIME) -- The steel output of Russia’s Severstal decreased by 2% on the quarter to 2.807 million tonnes in April–June, the company said in a statement on Monday.

Production of cast iron fell by 3% on the quarter to 2.331 million tonnes in the period due to short-term maintenance works at the first, fourth, and fifth blast furnaces, Severstal said.

Consolidated sales of steel products shrank by 7% to 2.551 million tonnes.

In January–June, the company’s steel output contracted by 7% on the year to 5.657 million tonnes mainly due to the sale of Long Product Mill Balakovo in 2019.

Cast iron production went up by 2% to 4.741 million tonnes. Consolidated sales of steel products went down 7% to 5.3 million tonnes, with average prices for the products shrinking by 9–23% in line with global trends, the company said.

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