Cherepovets Steel Mill completes overhaul of converter No. 3 in steelmaking department

AK&M 21 September 2020 08:52

Cherepovets Steel Mill has completed the overhaul of converter No. 3 in the steelmaking department, according to a statement by Severstal.

A third measuring probe was installed during the overhaul to measure the melt temperature in the converter and take samples during melt blowing.

The investment project amounting to more than RUB 500 million is aimed at increasing the daily volume of heats from 82 to 86. Installation of the measuring probes at three converters will increase equipment reliability, reduce the overconsumption of ferroalloys in the carbon steel production, reduce the tap-to-tap cycle by 30 seconds and increase the output of steel.

PAO Severstal (LSE: SVST, tax number: 3528000597) is an international mining and metallurgical company focusing on high value added products. The company has considerable experience of acquisitions and integrations of assets in North America and Europe. It also possesses mining enterprises in Russia providing the company's production assets with feed stock.

IFRS net profit of PAO Severstal for Q1 2020 decreased by 83.2% to $72 million from $428 million a year earlier. Revenue decreased by 12.5% to $1.777 billion from $2.031 billion, EBITDA by 16.3% to $555 million from $663 million.