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Steel producer Evraz reported a fouth-quarter rise steel product sales even as output fell following maintenance outages in November in North America.
For Q4, quarterly sales of steel products increased by 7.0%, while steel output fell by 0.6%.
For the year, however, sales of steel products dropped by 4.5%, partly driven by the impact that the export duty introduced in Russia in 2021 had on the output of semi-finished products for export, and because of a high-base effect following the fulfilment of a contract with the key customer in 2020 in North America, the company said.
Consolidated crude steel production edged down by 0.4% year-on-year, production of raw coking coal grew by 12.7% year-on-year, and output of iron ore products rose by 1.4% year-on-year.
Sales of vanadium products rose by 5.7% year-on-year due to overall stronger demand in 2021, caused by the recovery of key steel consuming sectors globally.