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EVRAZ Q3 2020 Trading Update

EVRAZ plc (LSE: EVR; “EVRAZ” or the “Group”) today released its trading update for the third quarter of 2020.

Q3 2020 vs Q2 2020 HIGHLIGHTS

  • In Q3 2020, EVRAZ’ consolidated crude steel output fell by 4.4% QoQ, mainly due to the planned shutdown of blast furnace no. 5 and the launch of blast furnace no. 6 after the completion of a major overhaul at EVRAZ NTMK.
  • Total sales of steel products decreased by 9.5% QoQ. Sales of semi-finished products fell by 24.1% QoQ following the increase of sales of finished goods to the Russian market.
  • Sales of finished products increased by 5.7% QoQ amid better market conditions in Russia and an improved product mix.
  • Total raw coking coal production went up by 14.6% QoQ, driven by the completion of longwall moves at the Alardinskaya and Esaulskaya mines in Q2 2020.
  • While production at the Razrez Raspadsky open pit remained suspended during the reporting period due to unfavourable market conditions, operations were resumed in October 2020 amid dwindling stockpiles and rising prices for coal products.
  • External sales volumes of coking coal products climbed by 23.6% QoQ following an improvement in market conditions.
  • External sales of iron ore products grew by 9.0% QoQ amid higher shipments to export markets in Q3 2020.
  • Sales of vanadium products rose by 13.4% QoQ, mainly due to increased steel utilisation rates and a slight recovery of the automotive industry. The regional sales and product mix was also changed to serve the more active Chinese oxide market.
Product, ‘000 tonnes Q3 2020 Q2 2020 Q3 2020/ Q2 2020, change 9m 2020 9m 2019 Q1 2020/ Q1 2019, change
Total crude steel production 3,227 3,377 -4.4% 10,163 10,364 -1.9%
Russia 2,893 2,992 -3.3% 9,006 8,945 0.7%
North America 334 385 -13.2% 1,157 1,419 -18.5%
Total raw coking coal mined 4,775 4,165 14.6% 14,632 20,159 -27.4%
Total coking coal concentrate production 3,873 3,820 1.4% 11,440 12,385 -7.6%
Iron ore products production 3,508 3,460 1.4% 10,563 10,488 0.7%
Total sales of steel products 3,062 3,382 -9.5% 9,668 9,884 -2.2%
Semi-finished products 1,309 1,724 -24.1% 4,476 4,131 8.4%
Finished products 1,753 1,658 5.7% 5,192 5,753 -9.8%
Total sales of third-party steel products 267 197 35.5% 639 601 6.3%
Sales of coking coal products 3,460 2,800 23.6% 9,539 8,539 11.7%
Sales of iron ore products 486 446 9.0% 1,287 861 49.5%
Sales of vanadium in slag 1,605 1,996 -19.6% 4,366 4,529 -3.6%
Sales of vanadium final products 1 2,779 2,450 13.4% 8,397 9,369 -10.4%

Note. Numbers in this table and the tables below may not add up to totals due to rounding.

1 In tonnes of pure vanadium