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Severstal's crude steel, hot metal output remains stable YOY

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Severstal's crude steel, hot metal output remains stable YOY

PAO Severstal's crude steel production in 2016 increased 2% to 11.6 million tonnes, and hot metal output improved 1% to 9.3 million tonnes.

The company's consolidated steel product sales as well as sales of steel from the Russian Steel unit both dropped 1% in 2016, on a yearly basis, to about 10.7 million tonnes each.

Sales of coking coal concentrate dropped 27% to 4.1 million tonnes in the year and declined 1% for iron ore concentrate to 4.1 million tonnes.

In the fourth quarter of 2016, Severstal's crude steel production decreased 2% over the previous quarter to 2.9 million tonnes, mainly impacted by scheduled short-term maintenance at CherMK.

Hot metal output in the quarter decreased 1% quarter over quarter to 2.4 million tonnes due to short-term maintenance works at the Cherepovets steel mill.

Consolidated steel product sales and sales of products from Russian Steel both increased 5% to 2.8 million tonnes each, on a quarterly basis.

Quarterly sales of coking coal concentrate dropped 12% to 800,462 tonnes, and iron ore concentrate fell 19% to 922,169 tonnes, over the third quarter of 2016.