Evraz output up

Evraz’s consolidated crude steel output increasedto 3.4 million tonnes in the third quarter – 6.3% up on the previous three months – following the completion of capital repairs at blast furnace 1 at EVRAZ ZSMK.

Output of steel products, net of re-rolled volumes, rose by 5.6% QoQ to 3.0 million tonnes, primarily due to the repairs completed at blast furnace 1 at EVRAZ ZSMK.

The share of semi-finished products increased to 43.0% in Q3 2016 (34.8% in Q2 2016), its standard level, following the repairs completed at blast furnaces, boosting the volume of steel available for export in Q3 2016.

In North America, output of tubular products (large-diameter pipes (LDP), oil country tubular goods (OCTG) and small-diameter line pipes) fell by 12.5% QoQ, due to pipeline project delays and low oil prices; output of construction products and flat products decreased by 14.7% and 25.7% respectively amid lower demand.

Output of coking coal concentrate decreased by 3.8% QoQ, as less coking coal was mined at the Raspadskaya mine due to longwall repositioning in Q3 2016.

At 9:15am: (LON:EVR) Evraz Plc share price was +1.9p at 204.7p

Story provided by StockMarketWire.com

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