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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 Q4 2013 and FY 2013.
Q4 2013 GROUP HIGHLIGHTS
● Consolidated sales of steel products increased 2% q/q and steel products sales of Russian Steel Division increased 4% q/q driven by overall healthier market conditions
● Crude steel production decreased 7% to 3.8 mt (Q3 2013: 4.0 mt) due to planned maintenance of the #2 converter at the Cherepovets Steel Mill which was idled to install an exhaust hood (completed in December 2013)
● The share of high value-added (HVA) products in the sales portfolio remained strong at 49%
● The overall pricing environment was favorable for most of the company’s products, notably iron ore pellets prices increased significantly by 16% q/q.