Evraz Q3 consolidated output down 10.3%

25th Oct 2018 09:47

(Sharecast News) - Russian steel maker Evraz on Thursday said third quarter consolidated crude steel output fell by 10.3% against the same period last year to 3.1m tonnes, primarily due to lower pig iron production.The company added that it expected fourth quarter crude steel output to be flat quarter on quarter.Production of raw coking coal climbed by 9.6% to 5.9m tonnes due to increased productivity at the Raspadsky open-pit mine, Evraz said, adding that coking coal product sales dropped by 8.3%, mainly due to logistical limitations amid maintenance works at Russian railroads.Sales of finished products decreased 1.2%, which was mostly attributable to lower sales volumes of railway products and flat-rolled products, Evraz said.Sales volumes of semi-finished products slipped by 0.7%, primarily due to lower crude steel production.External iron ore product sales fell by 15.9%, primarily as a result of increasing stockpiles to ensure stable production volumes and steady shipments to customers during capital repairs of an indurating machine in September-October.Sales of vanadium products declined by 3.9% QoQ, mainly due to large maintenance at the company's Vanady-Tula operation to reline the roasting kiln refractories as well as replace the grinding mill and regular annual maintenance at the Nikom works in the Czech Republic.