10:34, 03 August 2023

Severstal Increased Sales of Metal Products by 9 in The First Half of The Year

Severstal, a Metal-Expo regular exhibitor, in the first half of 2023 increased the production of cast iron and steel by 6% to 5.64 million tons and 5.65 million tons, respectively, compared with a year earlier. The growth was due to an increase in the loading of aggregates. This is stated in the company's message.

Sales of metal products increased by 9% to .5.47 million tons. Sales of semi-finished products decreased by 10% to 0.58 million tons. Sales of commercial steel (hot-rolled and long-rolled) increased by 19% to 2.38 million tons amid a revival in demand for hot-rolled steel after the Russian economy adapted to sanctions pressure.

Sales of products with high added value increased by 7% to 2.5 million tons. The share of VDS products in total sales was 46%. Sales of iron ore to third parties increased to 1 million tons (+2%) due to an increase in the sale of pellets on the Russian market.

Severstal is a vertically integrated mining and metallurgical company that creates new products and integrated solutions from steel together with customers and partners. The company's production assets are concentrated in Russia. The shares are traded on the Moscow Stock Exchange (ticker CHMF). In 2022, 10.7 million tons of steel were produced.

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