EVRAZ Q1 2015 production report
EVRAZ plc (LSE: EVR) today releases its operational results for the first quarter of 2015.
Q1 2015 vs Q4 2014 OPERATIONAL HIGHLIGHTS:
· Consolidated crude steel output was stable at 3.9 million tonnes per quarter with Russian steel mills running at full capacity
· Production of steel products, net of re-rolled volumes, was unchanged at 3.7 million:
- 5% higher production of semi-finished products for export supported by EVRAZ’s low cost position and devaluation of the Russian rouble and Ukrainian hryvnia, and a 7% growth in production of railway products in Russia and North America due to increased orders from EVRAZ’s key customers
- the decline in production volumes for other steel products caused by the lower demand and increased competition for construction products in Russia and for flat-rolled products in North America
· The share of finished steel products within consolidated volumes went down to 61% in Q1 2015 from 63% in Q4 2014 due to increasing output of semi-finished products for exports primarily as a result of a weaker demand for construction products in the Russian market
· Consolidated raw coking coal output and production of coking coal concentrate decreased by 9% and 10% respectively due to lower output of the Raspadskaya coal company primarily as a result of a planned longwall move at one of its mines.