Date of publication: 17.01.2012
EVRAZ plc (LSE: EVR) and Evraz Group S.A. (LSE: EVRZ) (together referred to as “EVRAZ”) today released its operational results for the fourth quarter of 2011 and full year 2011.
FY 2011 HIGHLIGHTS:
- Crude steel production grew by 3% compared to FY2010 mainly due to an increase in volumes in the Czech Republic, resulting from the resolution of a pricing dispute with a supplier of hot metal while other major steelmaking assets continued to operate at full capacity
- Steel product mix shifted further in favour of finished goods
- Coking coal production decreased by 16% due to several longwall repositionings and temporary stoppages of some mines for additional implementation of safety equipment and procedures
- Prices for steel products and coking coal improved compared to the previous year.
Q4 2011 HIGHLIGHTS:
- Crude steel volumes increased by 3% quarter-on-quarter due to completion of scheduled maintenance in Q3 on the back of full utilisation of major steelmaking assets
- Share of semi-finished steel increased compared to Q3 due to seasonally lower demand for finished steel in Russia
- Coking coal production gained momentum in Q4 2011 after most of the issues negatively affecting performance of the first three quarters of 2011 were resolved
- Prices for steel products and coking coal contracted compared to Q3 reflecting negative seasonality and market volatility.
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