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Evraz's crude steel output rises 3%

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Evraz's crude steel output rises 3%

Tue, 17 January 2012
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Evraz's crude steel output rises 3%

Newly-listed steel giant Evraz has seen crude steel production rise by 3% in the year ended December 31st, helped by an increase in volumes in the Czech Republic.

Crude steel production totalled 16.773m tonnes in 2011, up from 16.291m the year before. Quarter-on-quarter output also increased by 3% in the last three months of the year, helped by the completion of scheduled maintenance and the full utilisation of major steel-making assets.

Raw coking coal production fell by 16% year-on-year as a result of several "longwall repositioning" and safety procedures which caused the temporary stoppages of some mines.

Prices for both steel and coking coal improved year-on-year but "the Q4 2011 pricing [of steel] was, as usual, affected by seasonal factors, as well as global growth concerns," the statement said.