Evraz’s crude steel production decreased by 0.7pc to 6.9mn mt in H1 2020 compared to 7mn mt in the same period in 2019, the steelmaker indicated in its latest trading update.
The most significant drop in output occurred in Q2 2020 when crude steel production declined by 5.1pc to 3.4mn mt from 3.6mn mt in Q1 2020.
The company’s North American crude steel production decreased by 17.2pc to 0.8mn mt in H1 2020 from 1mn mt in the first six months of 2019. The Russian division, on the other hand, increased production by 2pc to 6.1mn mt from 6mn mt during the same period. However, the Russian output also decreased by 4.1pc to 3mn mt in Q2 2020 from 3.1mn mt in the same quarter last year.
Consolidate steel sales increased by 1.5pc to 6.6mn mt in H1 2020 from 6.5mn mt in H1 2019. The positive net effect was led by semi-finished product sales that increased by 17.2pc to 3.2mn mt from 2.7mn mt, while finished product sales declined by 9.7pc to 3.4mn mt from 3.8mn mt during the same period under consideration.
In Q2 2020, total steel sales increased by 4.9pc to 3.4mn mt from 3.2mn mt during the same quarter last year.
Raw coking coal mined by Evraz decreased by 28.8pc to 9.9mn mt in H1 2020 from 13.8mn mt in H1 2019, while coking coal concentrate production fell by 7.1pc to 7.6mn mt from 8.1mn mt during the same period under comparison.
Iron ore products production declined only 1.6pc to 7.6mn mt in H1 2020 from 7.2mn mt in H1 2019. Pig iron production increased by 3pc to 5.6mn mt from 5.5mn mt in the same period, despite a 1.3pc decline to 2.8mn mt in Q2 2020 from 2.8mn mt in the previous quarter.
Sales of iron ore products and coking coal increased by 14.6pc and 8.8pc, respectively, in H1 2020 compared to the same period last year, reaching 0.8mn mt for iron ore and 6mn mt for coking coal in the first six months of the year.
Vanadium slag sales dropped by 2.6pc to 2.8mn mt in H1 2020 from 2.8mn mt in the same period last year in line with vanadium product sales that decreased by 2.9pc to 5.6mn mt from 5.8mn mt in the same period. Vanadium product sales took a sharp fall in Q2 2020 by 22.6pc to 2.5mn mt from 3.2mn mt in Q1 2020.