Russia's Evraz boosts Q2 steel output 12.6 pct
(Reuters)
Updated:
2008-07-16 10:20
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Evraz Group, the Russian steel maker part-owned by billionaire Roman Abramovich, produced 12.6 percent more crude steel in the second quarter of 2008 and sold its products at higher prices.
Evraz, Russia's largest steel maker by domestic volume, said in a statement crude steel output in the second quarter rose to 4.69 million tonnes in the second quarter from 4.16 million tonnes in the same period last year.
First-quarter 2008 output was 4.79 million tonnes, giving first-half 2008 crude steel production of 9.48 million tonnes.
Evraz Group, listed in London, operates three large steel mills in Russia and has been expanding abroad in South Africa, the United States, Canada, Ukraine and China.
The company said rolled products output, net of re-rolled volumes, rose 18.2 percent year-on-year in the second quarter to 4.52 million tonnes.
Evraz Group's Russian steel division sold flat-rolled products at an average price of $1,010 per tonne in the second quarter, up from $644 a year ago and $617 in the preceding three months.
Construction products sold by the Russian division rose to an average $1,024 per tonne in the quarter from $749 a year ago and $714 in the first quarter of 2008.
To see Evraz Group's statement on second-quarter operational results, please double-click on.
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