EVRAZ plc (LSE: EVR; “EVRAZ” or the “Group”) today released its operational results for the first quarter of 2017.
Q1 2017 vs Q4 2016 OPERATIONAL HIGHLIGHTS:
· In Q1 2017, consolidated crude steel production increased by 8.7%, mainly due to higher production at EVRAZ North America and the Russian steel mills.
· Steel production at the Russian steel mills increased QoQ due to capital repairs at EVRAZ ZSMK’s blast furnace no. 3 in Q4 2016. The growth in steel products output at the Russian steel mills primarily reflected an increase in volumes of semi-finished products, while higher volumes of semi-finished products were re-rolled at Evraz North America and Palini e Bertoli.
· The increase in production of crude steel and steel products (higher output of tubular, railway and flat-rolled products) at EVRAZ North America was due to higher demand on the North American market, as well as the completion of planned outages at EVRAZ Regina and EVRAZ Pueblo in Q4 2016.
· Consolidated raw coking coal output decreased by 3.5%, primarily due to scheduled longwall repositioning at Raspadskaya mine, which was partially offset by an increase in raw coking coal output at Yuzhkuzbassugol’s mines following planned longwall repositioning in Q4 2016 and at Mezhegeyugol following the repositioning of mining equipment.
· Output of coking coal concentrate increased by 6.0% QoQ mainly due to higher volumes of raw coking coal mined at Mezhegeyugol, which is now processed partly at Yuzhkuzbassugol’s coal washing plants.