Russian steelmaker Severstal has announced its operational results for the third quarter and the first nine months of the current year.
Accordingly, in the third quarter, the company’s crude steel output totaled 2.69 million mt, down by 8.6 percent quarter on quarter, due to scheduled repairs at converters, while its pig iron production in the given period totaled 2.71 million mt, falling by 7.2 percent compared to the second quarter this year. In the meantime, in the first nine months of this year crude steel and pig iron outputs amounted to 8.34 million mt and 8.35 million mt, respectively, up by 4.7 percent and by 2.7 percent, respectively, both year on year.
In the given quarter, Severstal’s steel sales totaled 2.69 million mt, declining by 0.1 percent quarter on quarter, while its sales of semi-finished products fell by 18.1 percent to 230,000 mt compared to the previous quarter. In addition, in the January-September period of the year, the company’s steel sales amounted to 8.16 million mt, increasing by 0.4 percent year on year, while sales of semi-finished products were down by 36.7 percent compared to the same period of last year to 810,000 mt.
“In the third quarter, prices in the Russian market remained stable. Demand in the Russian market is showing signs of recovery after the crisis year of 2022. Overall, in 2023 we expect demand to grow by six percent to 45.8 million mt. The main drivers may be demand from the construction and mechanical engineering industries,” Alexander Shevelev, CEO of Severstal, stated.