Russian steelmaker Severstal has announced its operational results for the third quarter and the first nine months of the current year. Accordingly, Severstal's crude steel production in the third quarter increased by six percent to 2.91 million mt, quarter on quarter. In the third quarter of the current year, Severstal's consolidated steel product sales decreased by five percent quarter on quarter to 2.65 million mt, while the iron ore concentrate sales volume of Severstal Resources rose by two percent quarter on quarter to 1.13 million mt. Steel sales in the third quarter were mainly impacted by reduced activity of local traders and domestic steel demand softening after a seasonal improvement in previous periods.
In the first nine months of the current year, Severstal’s crude steel production remained stable year on year at 8.7 million mt.
In the January-September period, Severstal's consolidated steel product sales fell by four percent year on year to 7.88 million mt. In the given period, the iron ore concentrate sales volume of Severstal Resources remained almost stable year on year at 3.18 million mt.
Severstal stated that it has completed the refurbishment of the four-stand cold rolling mill at CherMK in May this year, which resulted in an increase in annual mill capacity by 200,000 mt.