Evraz posts mostly positive operational results

Evraz has posted a mostly positive set of operational results, with increases in steel and coal production for the quarter.

The FTSE 250 steel making and mining company posted its operational results for the third quarter of 2015 on Friday.

The company highlighted that crude steel output reached 3.5m tonnes, a 3.3% rise compared to the second quarter, driven by strong results from its Russia and Kazakhstan operations

It followed the completion of repair works at its Russian steel mills.

Sinter iron ore also increased by 11% from the last quarter, but pellets and lumpy ore both had a small dip.

Raw coking coal also had a big increase, up 36.3% to 5.2m tonnes due to resumption of full-scale mining at Yuzhkuzbassugol and Raspadskaya and an increase in demand in Russia.

However it’s wasn’t all good news, with production volumes of railway products down 22% due to seasonal demand in North America and maintenance at the Russian EVRAZ ZSMK rail mill.

The market reacted positivly to the news, with shares in Evraz up 3.86p (4.11%) to 97.86p at 0917 BST.