Russia: Severstal output up in H1 2019

In January-June Severstal steel output grew to 6.1 million tons.

Pig iron manufacture increased by 1%, to 4.67 million tons.

The sales of iron ore concentrate went up by 3%, to 2.73 million tons.

The sales of large-diameter pipes in Q2 grew by 9%. (Ukrainian metal)

Russia: Severstal-SMC-Vsevolzhsk starts supplying welded billets to UzAuto Motors

Severstal-SMC-Vsevolzhsk and Uz-Saemyung Co, the leading supplier of spare parts to UzAuto Motors (previously GM-Uzbekistan), have signed an agreement on the delivery of laser-welded billets. Severstal-SMC-Vsevolzhsk is a joint venture of Severstal and Mitsui. The company operates the only laser-welding line for car manufacturers in Russia and CIS. Its advantage is that it can weld…

Russia: Severstal buys out 26% in JV with Linde

Severstal has struck a deal to buy a share in its joint venture with Linde AG.

Severstal will own 26% and Linde – 74%.

The JV was created in June 2017. It is expected to reach it design capacity in 2020-2021. (Ukrainian metal)

Russia: Severstal unveils new client-centric corporate structure

Severstal organizational structure has been reconfigured to support its updated strategy and ensure it consistently delivers an excellent customer experience. Based on agile business principles, all of the company’s production and “selling” divisions now fall under two streams – upstream and downstream, for which common business goals are set. Upstream includes all of Severstal’s raw…

Russia: Severstal rolled metal approved by Nissan

Severstal has been approved by Nissan Manufacturing RUS to supply its galvanized rolled metal of NST780X and NST980X grades. The company has confirmed its technical compliance with the client’s demands and received a right to supply metal for the mass production of Nissan cars in Russia. Moreover, under its large-scale reconstruction program Severstal has started…

Russia: Severstal net profit down in Q1 2019

In January-March, Severstal net profit decreased by 7.2% YoY, to $428 million.

EBITDA dropped by 6.1%, to $663 million.

Compared with Q4 2018, net profit fell by 26%, and EBITDA – by 16.5%.

The group net debt as of March 31, decreased by 30%, to $863 million. (Ukrainian metal)

Russia: Severstal output up in Q1 2019

Steel production of Russia’s Severstal grew by 0.4% YoY, to 3.044 million tons in January-March, the company said in a statement on April 12. Cast iron production rose by 1%, to 2.363 million tons. Consolidated sales of steel products went up by 1%, to 2.832 million tons. Semi-produced good sales fell by 53%, to 121,000…

Russia: Fitch raises Severstal rating to BBB, outlook stable

International rating agency Fitch Ratings has upgraded the long-term issuer default rating of the Russian steelmaker Severstal to BBB from BBB-, with a stable outlook. “The rating upgrade reflects Severstal’s tested conservative financial policy during the supply-driven steel price turbulence in 2016-2017 and increasing protectionism since 2018. Its strong financial profile has been driven by…