In January-March Severstal Distribution increased metal sales by 13% YoY, to 395 thousand tons.
Because of the rolled metal price increase the company earnings rose by 71% YoY, to $225 million.
“The steel market remains highly volatile. According to analysts, metal consumption in Russia this year will increase by 1.8%, in Northern Europe – by 0.7%,” the company director Andrei Alexeev notes.
In Q1 the group sold 197 thousand tons of metal to Russia. Northern Europe (Baltic States, Finland, Germany and Poland) received 171 thousand tons, or 43% of the total volume. 7%, or 26 thousand tons, was sold in Ukraine and Belarus. (Ukrainian metal)