Russia’s PAO Severstal’s crude steel output rose by 5pc to 2.85mn mt in the first quarter of fiscal 2020 (Q1 FY2020), from 2.71mn mt in the prior quarter (Q4 FY2019), driven by an increased number of castings in Q1, along with the completion of short-term maintenance works at steelmaking units in the December-ended quarter of 2019, a company statement said.
Output, however, dropped by 6pc from 3.04mn mt in the prior year’s quarter.
The company’s hot metal production in the quarter rose by 2pc to 2.42mn mt from the prior year’s quarter of 2.36mn mt, after the completion of maintenance works at blast furnace facilities.
|Production||Q1 2020||Q4 2019||Change %||Q1 2020||Q1 2019||Change %|
Steel product sales increased by 4pc to 2.75mn mt in Q1 from 2.65mn mt in Q4 2019; while it dropped by 3pc from 2.84mn mt in Q1 2019.
The company posted a 45pc increase in its share of steel exports shipments from the previous 41pc in Q4 2109.
Severstals’ consolidated sales volumes of high value added (HVA) products accounted for a 42pc rise from Q4 2019 due to surge in shipments of hot-rolled coil and long steel products.