Integrated Steelmaker and Mining Giant Declares Q2 Operational Results

SEATTLE (Scrap Monster): Severstal- the Russian integrated steelmaker and mining giant announced operational results for Q2 and H2 2020.

The Severstal hot metal output recorded 3% decline over the quarter, falling from 2.41 million tonnes to 2.33 million tonnes, mainly on account of maintenance works at blast furnaces 1, 4 and 5. The crude steel production totalled 2.81 million tonnes during the quarter, down 2% quarter-on-quarter. The consolidated steel product sales declined 7% to 2.55 million tonnes. Also, the company increased the stock of finished goods at the end of the quarter.

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During H1 2020, the hot metal output increased marginally by 2% from 4.67 million tonnes in H1 2019 to 4.74 million tonnes. The increased output was mainly on account of reduced maintenance downtime and higher efficiency rates. The sale of the Balakovo mini-mill resulted in reduced crude steel production of 5.66 million tonnes in the initial six-month period of 2020. It must be noted that the production had totalled 6.10 million tonnes in H1 2019.

The company press release noted that the semi-finished products and hot-rolled coils recorded higher sales volume in H1 2020.