EVRAZ sees Q1 production increase across the board

Global mining giant EVRAZ said on Thursday that production volumes of steel, coking coal, iron ore and vanadium all increased during the first three months of the year.

Global mining giant EVRAZ said on Thursday that production volumes of steel, coking coal, iron ore and vanadium all increased during the first three months of the year.

Shares were up 1.01% at 160.1p in early trading.

Crude steel production and output of steel products (net of re-rolled) both increased by around 11% quarter-on-quarter in the first three months of the year as a result of lower downtime at its facilities.

Volumes were also helped by the resumption of operations at the Vitkovice steelmaking shop in the Czech Republic, which was temporarily suspended in the fourth quarter.

However, crude steel production and output of steel products (net of re-rolled) were down 6.0% and 2.6% year-on-year, respectively.

Raw coking coal production increased by 8.7% during the first quarter, up 29.5% year-on-year.

Production of iron ore products rose 1.4% over the first three months but were flat against the first quarter of 2012.

Primary vanadium volumes (vanadium in slag) increased by 3.9% quarter-on-quarter, down 11% on the year.

BC

Most Popular

The MoneyWeek Podcast: Asia, financial repression and the nature of capitalism
Economy

The MoneyWeek Podcast: Asia, financial repression and the nature of capitalism

Russell Napier talks to Merryn about financial repression – or "stealing money from old people slowly" – plus how Asian capitalism is taking over in t…
16 Jul 2021
Three companies that are reaping the rewards of investment
Share tips

Three companies that are reaping the rewards of investment

Professional investor Edward Wielechowski of the Odyssean Investment Trust highlights three stocks that have have invested well – and are able to deal…
19 Jul 2021
The future belongs to emerging markets – three EM stocks to buy now
Share tips

The future belongs to emerging markets – three EM stocks to buy now

Professional investor Carlos von Hardenberg of Mobius Capital Partners picks three of his favourite emerging-market stocks.
5 Jul 2021