Severstal’s steel output rises by 3% to 2.890 mln tns in Jul–Sep

MOSCOW, Oct 9 (PRIME) -- The July–September steel output of Russia’s Severstal increased by 3% on the quarter to 2.890 million tonnes thanks to completion of short-term maintenance works at three blast furnaces in the previous quarter, which allowed it to boost production of cast by 3% 2.402 million tonnes, the company said in a statement on Friday.

Consolidated sales of steel products went up 18% on the quarter to 3.006 million tonnes in July–September.

In January–September, the company’s steel output contracted by 6% on the year to 8.547 million tonnes mainly due to the sale of Long Product Mill Balakovo in 2019.

Cast iron production grew to 7.143 million tonnes from 7.125 million tonnes. Consolidated sales of steel products went down by 2% to 8.306 million tonnes, with average prices for the products shrinking by 10–19% in line with the global trends, the company said.

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