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Evraz crude steel output rise in fourth quarter and full year

- Q4 and FY 2013 crude steel rises
- Demand in Russia offsets suspension of mills
- Group disposes of businesses and mines

Evraz reported a 0.7 per cent rise in fourth quarter crude steel output from the previous quarter to 4m tonnes.

For the full-year 2013, output increased 1.1% to 16.1m as growth in Russia, Ukraine and South Africa offset the impact of the suspension of mills in Europe and North America.

The company suspended operations at Evraz Claymont in North America and Evraz Palini e Bertoli in Italy as part of a group-wide optimisation plan.

Evraz also disposed of the Evraz Vgok business and mines of Evrazruda in the iron ore division which led to a 1% fall in the annual production of saleable iron ore products in 2013.

While the firm experienced strong demand for steel products in Russia and America, average selling prices for all key product groups continued to soften over the year in line with global benchmarks.

The coking coal business increased the output of raw coking coal in 2013 by 22% on a pro-forma basis for the full-year with both key assets Yuzhkuzbassugol and the Raspadskaya coal company contributing significantly to growth. Evraz has commissioned new coking coal mine, Yerunakovskaya VIII, which will be a large scale and low cost operation.

RD

 

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