Severstal reduced steel sales by 2 in 2022%

AK&M 02 February 2023 11:29

Severstal in 2022 reduced steel sales by 2% to 10.9 million tons compared to 11.1 million tons a year earlier. Sales of semi-finished products increased by 11% to 1.57 million tons. This is stated in the company's message.

Sales of commercial rolled products did not change and amounted to 4.59 million tons due to the reorientation of sales to the Russian market and relatively high demand for steel in Russia. Sales of GVA products decreased by 6% to 4.76 million tons mainly due to a decrease in sales of hot-rolled products with high added value, galvanized steel and hardware.

Sales of products with high added value decreased by 6% to 4.76 million tons. Sales of iron ore to third parties decreased by 46% to 2.34 million tons due to the redistribution of sales to the Cherepovets Metallurgical Plant.

Steel production decreased by 8% to 10.7 million tons from 11.65 million tons. This was mainly due to the repair of the converter in the second quarter of 2022 and a decrease in the loading of electric arc furnaces due to an increase in scrap prices in the third quarter of 2022. Pig iron production remained at the level of the previous year, amounting to 10.97 million tons.

Severstal is a vertically integrated steel and mining company with assets in Russia, Latvia and Poland.