EVRAZ plc (LSE: EVR; “EVRAZ” or the “Group”) today released its trading update for the third quarter of 2018.
Please note that the sales volumes of vanadium final products for Q2 2018 have been updated due to an adjustment in classification. See the respective notes below the tables on pages 2 and 4 for details.
Q3 2018 vs Q2 2018 HIGHLIGHTS:
· Sales of finished products descended slightly by 1.2%, which was mostly attributable to lower sales volumes of railway products and flat-rolled products. Sales volumes of semi-finished products edged down by 0.7%, primarily due to lower crude steel production.
· Production of raw coking coal climbed by 9.6% QoQ to 5.9 million tonnes due to increased productivity at the Raspadsky open-pit mine.
· Coking coal product sales dropped by 8.3% QoQ, mainly due to logistical limitations amid maintenance works at railroads in Russia.
· External iron ore product sales fell by 15.9% QoQ, primarily as a result of increasing stockpiles to ensure stable production volumes and steady shipments to customers during the capital repairs of EVRAZ KGOK’s indurating machine no. 1 in September-October.
· Sales of vanadium products declined by 3.9% QoQ, mainly due to large maintenance at EVRAZ Vanady-Tula to reline the roasting kiln refractories as well as replace the grinding mill (during September and October) and regular annual maintenance at EVRAZ Nikom.