Leading Russian integrated steelmaker OAO Severstal has announced its Q1 2014 operational results.
The company has increased production of crude steel by 4% but sales of steel products are down by 8% against increased sales in Q4 2013.
According to Severstal, the pricing environment for steel has been challenging and this impacted coking coal concentrate at the company's Vorkuta facility and high value-added products produced by the Russian Steel Division (RSD).
With production assets in Russia, Europe and the USA, OAO Severstal has a liquid steel capacity of over 17Mt per year of which 16Mt is produced in Russia.
In revenue terms, the company generated US$10.9 billion in revenue and EBITDA of US$1.5 billion in 2013.