Severstal’s Russian Steel Division (RSD) saw its crude steel production drop by 7pc to 5.7mn mt in H1 2020 from 6.1mn mt in H1 2019, and declined by 2pc to 2.80mn mt in Q2 2020 from 2.85mn mt in Q1 2020, as its outlook in June suggested.
RSD’s hot metal production in H1 2020 rose by 2pc to 4.7mn mt from 4.6mn mt in H1 2019, while it declined by 3pc to 2.3mn mt in Q2 2020 compared to 2.4mn mt in the previous quarter.
The division’s total steel product sales volume decreased by 7pc to 5.3mn mt in H1 2020 compared to 5.7mn mt H1 2019, while the sales volume fell by 7pc to 2.6mn mt in Q2 2020 from 2.8mn mt in Q1 2020.
The company’s Resource Division’s iron ore sales volume moved up by 5pc in the first half of 2020 to 8.9mn mt from 8.5mn mt in H1 2019, while it remained flat at 4.4mn mt in Q2 2020 compared to Q1 2020.
Severstal’s consolidated steel product sales volume dropped in the first half of the year by 7pc to 5.3mn mt from 5.7mn mt in H1 2019, and it declined by same amount in Q2 2020 to 2.6mn mt from 2.7mn mt in Q1 2020.
Its consolidated iron ore pellets sales volumes decreased by 4pc to 5.5mn mt in H1 this year compared to 5.7mn mt in H1 last year. The company’s consolidated iron ore pellet sales volume in the second quarter of 2020 declined by 15pc to 2.5mn mt from 3mn mt in Q1 2020.
Its consolidated iron ore concentrate sales volume increased by 24pc to 3.4mn mt in H1 2020 compared to 2.7mn mt in H1 2019. The firm’s consolidated iron ore concentrate sales volume rose by 30pc to 1.9mn mt in the second quarter of the year from 1.5mn mt in Q1 2020.
The company has invested close to $435mn on its Resource Division in 2020 and close to $1bn on its Russian Steel Division this year.