EVRAZ Plc announced its operational results for the Q2 of 2014.
Q2 2014 vs Q1 2014 Highlights:
1. Consolidated crude steel production increased slightly in Q2 2014 vs. Q1 2014.
2. Consolidated production of steel products, net of re rolled volumes increased by 6% as a result of growth both in production of construction products and rails in Russia on the back of strong domestic demand.
3. Share of finished steel products within the consolidated volumes decreased to 70% in Q2 2014 vs. 74% in Q1 2014, whilst the share of semi finished goods increased to 30% from 26%, due to lower inter company supplies of slabs for re-rolling into finished goods at EVRAZ non-Russian assets.
4. Output of iron ore products in Russia increased by 3% vs. Q1 2014.
5. Consolidated raw coking coal output and production of coking coal concentrate increased by 7% and 3% respectively due to strong Raspadskaya’s production.
6. Average prices for most of EVRAZ’s steel products in Russia recovered on the back of improved demand in the domestic market.
7. Average prices for flat-rolled and tubular products in North America improved supported by growing demand from the oil and gas sector.
8. Average prices for Russian-produced iron ore products and coking coal concentrate softened in line with global benchmark prices.
|Product, ‘000 tonnes||Q2 2014||Q1 2014||Change||Q2 2013||Change|
|Pig iron (saleable)||85||77||10.90%||45||91.00%|
|Steel products, gross||3810||3781||0.80%||4093||-6.90%|
|Steel products, net of re rolled volumes||3556||3366||5.70%||3695||-3.80%|
|Semi finished products||1056||867||21.90%||843||25.30%|
|Flat rolled products||226||344||-34.50%||588||-61.70%|
|Other steel products||151||159||-5.00%||233||-35.20%|
Source – Strategic Research Institute