Severstal increased crude steel production by 4pc to 2.96mn mt in Q1 2021 compared to 2.85mn mt in the same year-ago quarter.
The production share of higher value-added products such as hot rolled and longs increased to 46pc in Q1 2021 compared to 42pc in Q1 2020 but was lower than 53pc reported in Q4 2020. Severstal aims for a 53pc consistent level for these products according to Alexander Shevelev, chief executive officer of Severstal. The product mix goals will be supported by the commissioning of the continuous pickling unit No 4 in Q4 2021.
Pig iron production rose by 11pc to 2.67mn mt in Q1 2021 against the same year-ago quarter. The increase was supported by the launch of blast furnace No 3 in Q4 2020.
Stee volume sales fell by 1pc to 2.63mn mt in Q1 2021. Export market share climbed to 52pc Q1 2021 from 43pc in the same quarter a year ago. Exports rose due to increased demand and favorable export prices.
Severstal’s revenue rose by 28pc to $2.2bn in Q1 2021 compared to the same quarter last year. EBITDA climbed by 109pc to $1.1bn compared to $555mn in the prior-year quarter. The company achieved a high EBITDA margin of 52pc in the most recent quarter.