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Severstal's Q4'18 crude steel, hot metal production slips QOQ, sales climb

PAO Severstal's crude steel production in the fourth quarter of 2018 dropped 4% from the third quarter to 2.9 million tonnes due to a decrease in pig iron production and the seasonal output reduction at the Balakovo mini mill.

Hot metal output slipped 3% quarter over quarter to 2.2 million tonnes due to short-term maintenance work at the number 2 blast furnace.

Consolidated steel product sales climbed 2% over the third quarter of 2018 to 2.8 million tonnes following short-term maintenance work at rolling-mill facilities in the prior quarter.

The company said Jan. 18 that the share of domestic sales declined to 62% in the fourth quarter of 2018 from 65% in the third quarter due to the seasonal slowdown in domestic consumption, and the share of high value-added products within the sales portfolio declined to 44% from 48%.

Sales of coking coal concentrate from Vorkutaugol increased 9% quarter over quarter on the back of higher production volumes at the Zapolyarnaya and Komsomolskaya mines in Russia.

Iron ore pellet sales climbed 15% over the third quarter of 2018 to 2.9 million tonnes due to higher production volumes and a stock selloff in the fourth quarter.

For full year 2018, crude steel production increased 3% year over year to 12 million tonnes, while hot metal output remained stable at 9.2 million tonnes.

Full-year consolidated steel product sales increased 2% on a yearly basis to 11.2 million tonnes.