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Mining company Evraz reported a rise in crude steel sales as output in the fourth quarter, but production fell slightly for the year on turbulence in oil and gas markets.
In Q4 2020, crude steel output rose by 7.4% quarter-on-quarter, mainly due to higher production volumes at EVRAZ NTMK following the completion of scheduled capital repairs during Q3 2020, as well as improved production volumes at EVRAZ North America, which grew by 26.6% quarter-on-quarter, the company said.
Sales volumes of semi-finished products increased by 6.1% year-on-year, primarily due to a 'change in the product mix in favour of higher slab and billets sales to export destinations following a decrease in demand in Russia during the COVID-19 pandemic,' it added.
Crude steel production in 2020, however, fell 1.3% year-on-year, as turbulence in the oil and gas markets led to lower demand, resulting in decrease of production volumes at EVRAZ North America.