Evraz Q2 steel production falls 9.9%

19th Jul 2016 07:47

(ShareCast News) - Russian steel maker Evraz said consolidated second quarter crude steel output fell 9.9% to 3.2m tonnes against the previous three months, primarily due to planned capital repairs at a blast furnace.Production of steel products, net of re-rolled volumes, fell to 2.9m tonnes quarter on quarter, due to planned capital repairs at the same blast furnace and a higher share of intragroup re-rolled volumes at EVRAZ North America.The share of finished steel products in consolidated volumes rose to 65.3%, up from 56.4% in the previous quarter, due to lower production of semi-finished products in Russia and Ukraine amid improved demand for construction products in both markets.Production of railway products in Russia, including rails, was mostly flat. Production in North America declined in response to lower demand from Class I railways amid inventory re-balancing.Production of tubular products (large diameter pipes, oil country tubular goods and small diameter line pipes) in North America continued to be affected by pipeline project delays, low oil prices and the seasonal impact of the spring break in Western Canada, Evraz said.Production of coking coal concentrate increased by 3.3% in response to improved demand on the domestic and export markets, it added.