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EVRAZ update crude steel production for Russia

In Q3 2014, crude steel output decreased slightly by 2% compared to Q2 2014 as a result of lower pig iron output due to unscheduled maintenance works (change of the worn-out charging device) at one of the EVRAZ ZSMK blast furnaces.

Production of steel products, net of re-rolled volumes, decreased by 2% compared to the previous quarter and was unchanged compared to the same period last year.

Production of semi-finished goods increased by 10% compared to Q2 2014 when their production was limited by steel availability due to maintenance of one of EVRAZ NTMK’s blast furnaces in May.

Production of railway products was affected, experiencing a 28% decrease QoQ and a 27% decrease YoY by lower orders of railway products by customers in Russia and the CIS, including Russian Railways.

While the demand for rebars and, consequently, their production remained strong in Q3 2014, the overall production of construction products decreased by 5% compared to Q2 2014 and to Q3 2013 due to lower production volumes of other construction products.

In particular, the production of beams decreased, mostly as a result of a softer demand but also due to the scheduled 22-day maintenance of one of the reheating furnaces at EVRAZ NTMK’s broad flange beam shop in July to August. Production volumes of construction products were also affected by the shutdown of unprofitable Mill 450 at the EVRAZ ZSMK.

Prices for semi-finished goods slightly decreased in line with global prices. Higher prices for construction products reflected the seasonal peak in demand. Prices for railway products in US dollar terms decreased mostly as a result of the Russian rouble devaluation.

Production of steel and total steel products is expected to increase in Q4 2014 compared to Q3 2014, albeit at the expense of a further shift in favour of production of semi finished products due to seasonal change in demand. Prices for construction products are expected to be negatively affected by decreasing demand in Russia and the CIS and, in dollar terms, by the continuing weakening of the rouble.

Source – Strategic Research Institute

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