PROFIT & LOSS

Severstal steel output falls in Q4

Short-term maintenance hit production, while markets continued to be challenging.

This article is 4 years old. Images might not display.

Severstal produced 2.36 million tonnes of hot metal in the fourth quarter of 2019, down 4% on the previous quarter. Crude steel output was down 10% to 2.7Mt.

Maintenance at Severstal's blast furnace facilities and the sale of the Balakovo mini-mill in the previous quarter impacted production.

Consolidated steel sales declined 6% to 2.65Mt.

However, iron ore pellet sales grew 14% to 2.81Mt, mainly due to higher production at Karelsky Okatysh. But iron ore concentrate sales were down 17% to 1.6Mt.

Bank of America Merrill Lynch downgraded Severstal in October, mainly due to concern over Russia downside risks.

However, the steel producer told Mining Journal in November it expected to see the steel market rebalance in Q1 2020.

Moscow-listed Severstal (MICEX: CHMF) shares were trading at 974 roubles on Friday. Its share price was 953 roubles a year ago. The company's market capitalisation is 815.94 billion roubles. 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.