trending Market Intelligence /marketintelligence/en/news-insights/trending/vrECMMyko_fwYOr54AZAcg2 content esgSubNav
In This List

Severstal posts higher hot metal, lower crude steel output in Q3'19

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


Severstal posts higher hot metal, lower crude steel output in Q3'19

PAO Severstal's third-quarter crude steel production inched down 1% from the second quarter to 3.0 million tonnes, mainly reflecting a decline in electric arc furnace steel output following the recent sale of its Balakovo mini-mill in Russia.

Hot metal output grew 7% to 2.5 Mt, following short-term maintenance works at certain blast furnaces in the previous quarter.

Total consolidated steel sales remained unchanged quarter over quarter at 2.8 Mt, with the share of domestic sales slightly falling to 67% from 70%.

Sales volumes of coking coal concentrate from OAO “Vorkutaugol” surged 41% on a quarterly basis to 1.4 Mt, in line with a 42% increase in the production of run-of-mine coal.

The company added Oct. 11 that sales of iron ore pellets declined 15% from the previous quarter to 2.5 Mt, reflecting higher production of iron ore concentrate at Karelsky Okatysh mine in Russia, which drove up concentrate sales volumes by 35% to 1.9 Mt.

The share of high-value-added product sales decreased by 1 percentage point to 45%, reflecting a decline in sales of galvanized, color-coated and cold-rolled products on a quarterly basis due to maintenance, offset by higher sales volumes of thick plate and lower sales of long products.

For the year-to-date period ending Sept. 30, crude steel production remained flat year over year at 9.1 Mt, while hot metal output increased 3% to 7.1 Mt.

Coking coal concentrate sales volumes from Vorkutaugol jumped 43% yearly during the nine-month period to 3.3 Mt, as iron ore concentrate sales volumes rose 14% to 4.7 Mt.

In September, the company invested about US$6 million in Michigan-based Arcanum Alloys Inc., which develops innovative alloys used in making cars, appliances and construction material.