OAO Severstal, one of the world’s leading vertically integrated steel and steel related mining companies, announced its Q2 2013 and H1 2013 operational results, the highlights of which are as follows:
− Crude steel production increased 5% Q1-Q2 to 4.0Mt (Q1 2013: 3.8Mt);
− Steelmaking assets at the Russian Steel Division (RSD) and Severstal North America Division (SNA) ran at close to full capacity;
− Consolidated sales of steel products increased 5% despite the challenging economic environment;
− The share of high value-added products in the sales portfolio remained high at 45%;
− Q1/Q2 prices for key steel products at RSD were broadly flat or slightly decreased; prices for SNA’s rolled products decreased by 3%. Prices for coking coal concentrate mirrored market trends and decreased by 3% at Vorkutaugol, while prices for iron ore pellets increased by 1% despite the challenging pricing environment for key iron ore products.