Severstal reports Q2 2013 and H1 2013 operational results

OAO Severstal (MICEX-RTS: CHMF; LSE: SVST), one of the world’s leading vertically integrated steel and steel-related mining companies, today announces its operational results for Q2 2013 and H1 2013.

Q2 GROUP HIGHLIGHTS

● Crude steel production increased 5% q/q to 4.0 mln tonnes (Q1 2013: 3.8 mln tonnes)

● Steel-making 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%

● Q/q 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.

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