Severstal 1H Steel Output Rises 4%

Russia’s largest steelmaker Severstal saw 2012 first half crude steel production increase four percent year-on-year to 7.793 million tons, the company said in a statement on Friday.

The company’s total steel products sales in January-June 2012 rose seven percent to 7.528 million. Severstal sold 5.034 million tons of coal in the first six months of this year, a five-percent decrease year-on-year, and 7.469 million tons of iron ore, a nine-percent growth compared with the same period last year.

Severstal holds assets in Russia, the United States, Ukraine, Latvia, Poland, Italy, Liberia and Brazil. The company is listed on the Moscow Exchange and Severstal’s GDRs are traded on the London Stock Exchange.

Severstal reported revenue of $15.812 billion and EBITDA of $3.584 billion in 2011 with crude steel production in 2011 reached 15.3 million tons.


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