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Evraz Plc  -  EVR   

EVRAZ Q4 2012 and FY 2012 production update

Released 07:00 18-Jan-2013

RNS Number : 8627V
Evraz Plc
18 January 2013
 



EVRAZ Q4 2012 and FULL YEAR 2012 PRODUCTION REPORT

18 January 2013 - EVRAZ plc (LSE: EVR) today released its operational results for the fourth quarter of 2012 and full year 2012.

 

Q4 2012 OPERATIONAL HIGHLIGHTS and RECENT DEVELOPMENTS:

 

·    Consolidated crude steel production and gross output of steel products both decreased by 6% compared to Q3 2012, mainly due to a scheduled maintenance at EVRAZ ZSMK. The temporary suspension of work at EVRAZ Vitkovice's steel shop in the Czech Republic also contributed to the decrease in crude steel output

·    Consolidated production of finished steel goods was largely flat quarter-on-quarter, whilst the proportion of finished steel products in EVRAZ's total output increased to 80% in Q4 2012 compared with 73% in Q3 2012

·    Consolidated output of iron ore products remained broadly flat vs. Q3 2012 with increased output of sinter and pellets countering lower output of saleable concentrate in Russia

·    Raw coking coal production at Yuzhkuzbassugol decreased by 6% compared to Q3 2012, mostly due to a scheduled two-month longwall repositioning at the Osinnikovskaya mine

·    Production at EVRAZ ZSMK rail mill was recommenced on 15 January 2013 following the successful completion of the modernisation project

·    EVRAZ NTMK has completed the implementation of the PCI project, which is expected to reach designed technical parameters in Q1 2013

·    Production of crude steel at EVRAZ Vitkovice in the Czech Republic resumed in January 2013, while the rolling mills had been in operation in Q4 2012

 

FY 2012 OPERATIONAL HIGHLIGHTS:

 

·    Consolidated crude steel production and gross production of steel products decreased by 5% and 4% respectively vs. 2011 mainly due to a higher number of overhauls at the Russian steel mills which were mostly related to implementation of the modernisation programme, but also due to the temporary suspension of crude steel production at EVRAZ Vitkovice's steel shop in the Czech Republic to reduce slab inventory

·    In 2012, the reconstruction of the rail mills at EVRAZ NTMK and EVRAZ ZSMK was largely completed, as well as implementation of PCI at NTMK. In 2013, the periods of suspension of production due to such overhauls are expected to reduce as the current modernisation programme nears completion

·    In 2012, the share of finished steel products as a percentage of total steel products' output remained flat at 77% compared to 2011. With increased rolling capacity following the rail mill modernisation, share of finished products in 2013 is expected to grow improving the product mix

·    Production of saleable iron ore products decreased by 2% in 2012 compared to 2011 mainly due to the termination of processing of third party raw ore at certain Russian operations, which became uneconomic in the current market environment

·    Production of raw coking coal was 35% higher compared to 2011 due to more stable operation at the Yuzhkuzbassugol mines as a result of the successful implementation of the operational improvement programmes

·    Average selling prices for most key steel product groups moderately fell over the year in the challenging macroeconomic environment

STEEL

 

Product, '000 tonnes

2012

 

2011

 

2012/ 2011, change

Q4 2012

 

Q3 2012

 

Q4 2012/ Q3 2012, change

Coke (saleable)

1,446

1,468

(1.5)%

345

366

(5.7)%

Pig iron

12,031

11,858

1.5%

3,086

3,006

2.7%

Pig iron (saleable)

263

131

101.0%

147

67

118.0%

Crude steel

15,945

16,773

(4.9)%

3,676

3,908

(5.9)%

Steel products, gross*

15,700

16,349

(4.0)%

3,682

3,902

(5.6)%

Steel products, net of re-rolled volumes

14,250

15,232

(6.4)%

3,294

3,636

(9.4)%

Semi-finished products **

3,173

3,542

(10.4)%

657

979

(32.9)%

Finished products

11,077

11,690

(5.2)%

2,637

2,656

(0.7)%

Construction products

5,207

5,257

(1.0)%

1,292

1,347

(4.1)%

Railway products

1,832

2,055

(10.8)%

380

391

(2.7)%

Flat-rolled products

2,472

2,707

(8.7)%

564

556

1.4%

Tubular products

869

848

2.6%

242

210

15.5%

Other steel products

697

823

(15.4)%

158

153

3.2%

Note. Numbers in this table and the tables below may not add to totals due to rounding. Percent changes are based on numbers prior to rounding.

 

* Gross volume of steel products in the tables includes those re-rolled at other EVRAZ's mills. However, such volumes are eliminated as intercompany sales for purposes of EVRAZ's consolidated operating results.

** Consolidated production volumes of semi-finished products are preliminary as intra-group re-rolling volumes are yet to be finalised 

 

 

In Q4 2012, EVRAZ's overall production of crude steel decreased by 6% compared to Q3 2012, mainly due to a scheduled maintenance of a converter and the billet caster at EVRAZ ZSMK. The temporary suspension of work at EVRAZ Vitkovice's steel shop in the Czech Republic also contributed to the decrease in crude steel output.

 

For the whole year, consolidated crude steel production and gross production of steel products decreased by 5% and 4% year-on-year, respectively, mainly due to a higher number of overhauls at Russian assets related to implementation of the modernisation programme, but also due to the temporary suspension of crude steel production at EVRAZ Vitkovice's steel shop in the Czech Republic to reduce slab inventory. In 2012, the modernisation of the rail mills at EVRAZ NTMK and EVRAZ ZSMK was largely completed, as well as the implementation of the PCI project at EVRAZ NTMK.

 

Consolidated production of finished steel goods was flat quarter-on-quarter and decreased by 5% year-on-year due to lower output of flat-products (primarily in Europe) and railway products in Russia due to the reconstruction of the railway mill at EVRAZ ZSMK.

 

Share of finished steel products as the percentage of total production of steel products remained unchanged in 2012 vs. 2011 - at 77% and increased to 80% in Q4 2012 from 73% in Q3 2012

 

RUSSIA

 

Product, '000 tonnes

2012

 

2011

 

2012/ 2011, change

Q4 2012

 

Q3 2012

 

Q4 2012/ Q3 2012, change

Coke (saleable)

504

532

(5.4)%

117

135

(13.1)%

Pig iron

10,554

10,337

2.1%

2,702

2,695

0.2%

Pig iron (saleable)

185

65

184.9%

97

45

116.2%

Crude steel

11,675

12,125

(3.7)%

2,755

2,931

(6.0)%

Steel products, gross

10,821

11,134

(2.8)%

2,498

2,796

(10.6)%

Steel products, net of re-rolled volumes

10,592

10,942

(3.2)%

2,481

2,721

(8.8)%

Semi-finished products

4,091

4,202

(2.7)%

970

1,122

(13.5)%

Finished products

6,502

6,739

(3.5)%

1,510

1,599

(5.5)%

Construction products

4,281

4,220

1.5%

1,049

1,127

(6.9)%

Railway products

1,346

1,564

(14.0)%

258

277

(6.7)%

Flat-rolled products

334

356

(6.1)%

71

74

(4.7)%

Other steel products

540

600

(9.9)%

132

120

9.8%

In Q4 2012, pig iron production was flat quarter-on-quarter, though crude steel output decreased by 6% compared to Q3 2012 due to a scheduled maintenance of converter No 4 which lasted for 74 days and the billet caster at EVRAZ ZSMK.

 

In Q4 2012, production of saleable semi-finished goods, mostly slabs, fell by 14% as a result of planned maintenance works at EVRAZ ZSMK and due to lower demand in export markets.

 

In the reporting quarter, output of construction products decreased by 7% vs. Q3 2012 driven principally by seasonal factors.

 

In Q4 2012, production of railway products was 7% lower compared to Q3 2012 as a result of reduction in the output of railway wheels caused by maintenance works at the EVRAZ NTMK wheel rolling mill.

 

Overall, in 2012 crude steel output decreased by 4% compared to 2011 on the back of a major modernisation of an electric arc furnace at EVRAZ ZSMK coinciding with an upgrade of the rail mill. Moreover, in the course of 2012 there were a larger number of overhauls of blast furnaces and converters at both EVRAZ steel mills in Russia (EVRAZ NTMK and EVRAZ ZSMK).

 

In 2012, output of construction products recorded moderate growth of 2% vs. 2011 as a result of the gradual improvement of construction activity in Russia.

 

In 2012, production of railway products was 14% lower vs. 2011 as EVRAZ ZSMK rail mill was closed from April 2012 for the modernisation programme. Following successful completion of the modernisation project, production at the rail mill commenced on 15 January 2013.

 

The PCI project at EVRAZ NTMK has been completed and is expected to reach designed technical parameters in Q1 2013. As a result of implementation of the PCI project at EVRAZ NTMK, coke consumption is expected to reduce by 20% and natural gas by 50% for the additional usage of 150 kg of PCI coal per tonne of pig iron. The completion of the PCI project at EVRAZ ZSMK has been delayed until 2014 due to revisions in the project design documentation.

 

In Q1 2013, no major overhauls are planned at the Russian steel mills. For 2013 overall, the number of overhauls is expected to reduce as the current modernisation programme nears completion.

 

 

 

Average selling prices

 

USD/tonne (ex works)

unless otherwise stated

2012

2011

Q4 2012

Q3 2012

Coke

191

231

182

189

Pig iron

353

466

266

340

Steel products





Semi-finished products

457

529

396

443

Construction products

677

732

667

680

Railway products

891

882

911

908

Flat-rolled products

607

706

559

577

Other steel products

729

790

709

714

 

In 2012, average selling prices for most key steel product groups moderately fell over the year in the challenging macroeconomic environment. Meanwhile, average prices for some high value added products such as railway products enjoyed positive dynamics due to improved product mix.

 

 

UKRAINE

 

Product, '000 tonnes

2012

 

2011

 

2012/ 2011, change

Q4 2012

 

Q3 2012

 

Q4 2012/ Q3 2012, change

Coke (saleable)

942

936

0.7%

228

231

(1.4)%

Pig iron

857

862

(0.5)%

208

227

(8.1)%

Pig iron (saleable)

79

66

18.9%

50

22

121.5%

Crude steel

820

860

(4.6)%

167

208

(19.7)%

Steel products

702

737

(4.7)%

156

162

(4.0)%

Semi-finished products

244

213

14.8%

58

49

18.5%

Finished products

458

524

(12.6)%

98

113

(13.7)%

Construction products

357

426

(16.1)%

82

88

(6.6)%

Other steel products

101

98

2.5%

16

25

(38.3)%

 

In Q4 2012, crude steel production decreased by 20% vs. Q3 2012 due to a scheduled maintenance in the converter shop of EVRAZ DMZ which began in mid-September and lasted until the end of October. This maintenance led to higher saleable volumes of pig iron and lower volumes of steel products.

 

Overall, in 2012 output of both crude steel and steel products was lower by 5% vs. 2011 due to planned maintenance works at blast furnaces, oxygen generation unit and in the converter shop.

 

In Q1 2013, no major overhauls are planned at the EVRAZ DMZ steel mill.

 

 

Average selling prices

 

USD/tonne (ex works) unless otherwise stated

2012

2011

Q4 2012

Q3 2012

Coke

214

308

204

201

Pig iron

339

491

317

349

Steel products





Semi-finished products

523

569

470

505

Construction products

645

691

630

634

Other steel products

885

989

843

883

 

 

NORTH AMERICA

 

Product, '000 tonnes

 

2012*

 

2011

 

2012/ 2011, change

Q4 2012*

 

Q3 2012

 

Q4 2012/ Q3 2012, change

Crude steel

2,424

2,332

4.0%

588

610

(3.6)%

Steel products, net of re-rolled volumes

2,661

2,646

0.6%

675

642

5.2%

Construction products

330

302

9.4%

89

79

13.7%

Railway products

486

490

(0.8)%

122

114

7.1%

Flat-rolled products

975

1,007

(3.1)%

221

239

(7.5)%

Tubular products

869

848

2.6%

242

210

15.5%

 

* Q4 2012 and FY 2012 production volumes are preliminary

 

In Q4 2012, EVRAZ's North American steel mills continued to operate at high utilisation rates, though crude steel production decreased by 4%, output of steel products improved by 5% compared to Q3 2012, secured by higher supplies of slabs from EVRAZ NTMK.

 

Output of construction products increased by 14% in Q4 2012 vs. Q3 2012 as a result of healthy demand for rod & bar products. A third working shift at EVRAZ Pueblo was added to meet the increased demand for these products. The increase in output of construction products by 9% in 2012 vs. 2011 was due to a relatively low base in 2011.

 

In the reporting quarter, rail production increased by 7% compared to Q3 2012 after completion of the scheduled annual maintenance at the Pueblo rail mill in September 2012. Annual production of railway products in 2012 remained flat year-on-year. Meanwhile, the order book of the rail mill is full until the end of Q1 2013.

 

The output of flat-rolled products in Q4 2012 decreased by 8% vs. Q3 2012 primarily due to lower output of specialty plate at EVRAZ Claymont (the mill was idle during Hurricane Sandy), lower production of commodity plate resulting from planned maintenance works at EVRAZ Portland and EVRAZ Regina facilities and due to a weaker order book. This decrease was partially offset by an increase in API plate production.

 

In Q4 2012, production of tubular goods increased by 16% compared to Q3 2012 due to higher output of spiral weld pipe for a large Canadian buyer and an overall improvement in customer demand.

 

Overall, in 2012, EVRAZ's North American steel mills demonstrated strong performance in all product segments. Slightly better results for construction and tubular products were achieved through redistribution of production capacity from other product categories.

 

In Q1 2013, EVRAZ's North American steel mills are expected to continue running at high utilisation rate with a significant pick-up in the order book for flat products and some positive pricing dynamics.

 

Average selling prices

 

USD/tonne (ex works) unless otherwise stated

2012

2011

Q4 2012

Q3 2012

Construction products

845

897

767

810

Railway products

989

1,023

932

928

Flat-rolled products

1,017

1,134

901

992

Tubular products

1,509

1,486

1,461

1,472

 

 

EUROPE

 

Product, '000 tonnes

2012

 

2011

 

2012/ 2011, change

Q4 2012

 

Q3 2012

 

Q4 2012/ Q3 2012, change

Crude steel

454

776

(41.5)%

0

81

(100.0)%

Steel products

1,028

1,267

(18.9)%

230

237

(2.6)%

Construction products

69

131

(47.6)%

26

26

0.5%

Flat-rolled products

920

1,057

(13.0)%

200

207

(3.4)%

Other steel products

39

79

(50.6)%

4

4

18.3%

 

In Q4 2012, crude steel production at EVRAZ Vitkovice Steel (EVS) was temporarily suspended to reduce slab inventory. Meanwhile, output of steel products demonstrated only a minor decrease of 3% compared to Q3 2012, as the plate mill was working through the slabs inventory and was also running on purchased slabs.

 

Overall, in 2012 crude steel output was lower by 42% vs. 2011 as a result of prolonged maintenance works at the EVS steel shop in July-August 2012 and temporary suspension in Q4 2012. In 2012, output of steel products decreased by 19% year-on-year in an environment of subdued demand and continuing macroeconomic uncertainty in Europe.

 

In January 2013 the EVS steel shop resumed operation but future performance will be dependent upon prevailing market conditions.

 

In 2012, output of flat-rolled products at EVRAZ Palini e Bertoli in Italy (part of EVRAZ Europe) remained flat amounting to 420 thousand tonnes of plate.

 

Average selling prices

 

USD/tonne (ex works) unless otherwise stated

2012

2011

Q4 2012

Q3 2012

Steel products





Construction products

877

896

890

877

Flat-rolled products

743

907

674

715

 

 

SOUTH AFRICA

 

Product, '000 tonnes

 

2012

 

2011

 

2012/ 2011, change

Q4 2012

 

Q3 2012

 

Q4 2012/ Q3 2012, change

Pig iron

620

660

(6.0)%

176

84

108.1%

Crude steel

572

681

(16.0)%

166

78

113.8%

Steel products

461

564

(18.2)%

123

66

85.9%

Semi-finished products

15

51

(70.9)%

0

0

n/a

Finished products

446

513

(13.0)%

123

66

85.9%

Construction products

169

179

(5.5)%

45

27

68.1%

Flat-rolled products

243

287

(15.5)%

71

35

103.3%

Other steel products

34

46

(26.4)%

6

4

54.1%

 

In Q4 2012, output of all products at EVRAZ Highveld Steel and Vanadium, including pig iron, crude steel and steel products recovered as compared to Q3 2012 when a four-week industrial action led to a suspension of operations. In the reporting quarter, pig iron output increased by 108% vs. Q3 2012, while volumes of crude steel and steel products grew by 114% and by 86% respectively.

 

Overall, in 2012 operational performance of EVRAZ Highveld Steel and Vanadium was impacted by unstable operations in the first half of 2012, the industrial action in Q3 2012, ramp-up problems in the second half of the year following the end of industrial action as well as by a transportation strike in the country. As a result, production of pig iron and crude steel decreased by 6% and 16%, respectively, compared to 2011. Annual output of steel products was lower by 18% year-on-year for the aforementioned reasons as well as weaker market demand.

 

 

Average selling prices

 

USD/tonne (ex works)

unless otherwise stated

2012

2011

Q4 2012

Q3 2012

Steel products





Semi-finished products

489

587

699

742

Construction products

737

797

730

712

Flat-rolled products

765

837

699

740

Other steel products

604

677

636

615

 

 

 

MINING

 

IRON ORE

 

Product, '000 tonnes

2012

 

2011

 

2012/ 2011, change

Q4 2012

 

Q3 2012

 

Q4 2012/ Q3 2012, change

Iron ore products

20,753

21,170

(2.0)%

5,133

5,158

(0.5)%

Concentrate, saleable (Russia)

5,615

6,447

(12.9)%

1,331

1,569

(15.2)%

Sinter (Russia)

4,698

4,473

5.0%

1,230

1,128

9.0%

Pellets (Russia)

6,051

5,907

2.4%

1,572

1,397

12.5%

Lumpy ore (Ukraine)

2,608

2,446

6.6%

580

559

3.8%

Fines ore (South Africa)

607

640

(5.1)%

166

153

8.9%

Lumpy ore (South Africa)

1,174

1,257

(6.6)%

253

352

(28.1)%

 

Overall production of saleable iron ore products by the Company remained broadly flat in Q4 2012 and was down 2% in 2012 compared to 2011.

 

Production of saleable concentrate in Russia decreased by 15% in Q4 2012 compared to the previous quarter as a result of temporary suspension of Evrazruda's Irba mine in November-December 2012 (which became uneconomic in the current market environment) and change in the product mix (larger volumes of sinter output). In Q4 2012, production of pellets increased by 13% compared to Q3 2012 after the completion of scheduled kiln repair at EVRAZ KGOK iron ore processing plant in Q3 2012.

 

In 2012, production of saleable concentrate in Russia decreased by 13% for the abovementioned reasons as well as due to termination of processing of third party raw ore being uneconomic in the current market environment.

 

No major changes in volumes of saleable concentrate, sinter and pellets produced at Russian operations are expected in Q1 2013 compared to Q4 2012.

 

EVRAZ Sukha Balka production of lumpy ore in Q4 2012 grew by 4% vs. Q3 2012 despite the repositioning of a skip conveyor at the Yubileynaya mine that continued from mid-September to mid-November 2012.

 

Total output of lumpy ore by EVRAZ Sukha Balka in 2012 was 7% higher compared to 2011 as a result of smoother repositioning of a skip conveyor in the reporting year vs. 2011.

 

Average selling prices

 

USD/tonne (ex works)

unless otherwise stated

2012

2011

Q4 2012

Q3 2012

Iron ore products





Concentrate, saleable (Russia)

84

111

70

82

Sinter (Russia)

91

128

70

89

Pellets (Russia)

91

132

74

95

Lumpy ore (Ukraine)

61

78

50

61

Fines ore (South Africa)

12

24

13

9

 

 

COAL

 

Product, '000 tonnes

2012

 

2011

 

2012/ 2011, change

Q4 2012

 

Q3 2012

 

Q4 2012/ Q3 2012, change

Raw coking coal (mined)

8,506

6,303

35.0%

2,181

2,313

(5.7)%

Raw steam coal (mined)

2,283

2,965

(23.0)%

644

892

(27.8)%

Coking coal concentrate (production)

6,477

6,501

(0.4)%

1,575

1,627

(3.2)%

Steam coal concentrate (production)

421

859

(50.9)%

79

132

(40.3)%

Raspadskaya*







Coking coal (mined)

7,002

6,251

12.0%

2,191

1,377

59.1%

 

* Reported numbers are for 100% production. As at 31 December 2012 EVRAZ held a 41% effective interest in the Raspadskaya coal company, on 16 January 2013 EVRAZ increased interest in Raspadskaya to 82%.

 

Coking coal

 

In Q4 2012, raw coking coal production at Yuzhkuzbassugol decreased by 6% compared to Q3 2012, mostly due to a scheduled two-month longwall repositioning at the Osinnikovskaya mine in the reporting quarter. The decrease in output of raw coking coal in Q4 2012 vs. Q3 2012 contributed to lower production volumes of coking coal concentrate by 3%.

 

Overall, in 2012 raw coking coal output by Yuzhkuzbassugol was 35% higher compared to 2011 due to more stable mines performance as a result of successfully implemented operational improvement programmes.

 

In Q1 2013, raw coking coal production is envisaged to grow by 15% as the Alardinskaya mine shall increase output and the Yerunakovskaya VIII mine is expected to deliver first coal starting from February 2013.

 

 

Steam coal

 

Production of raw steam coal decreased by 28% in Q4 2012 vs. Q3 2012 mostly due to a combination of two factors: suspension of mining at the Gramoteinskaya mine as a result of a fire and longwall repositioning at the Kusheyakovskaya mine that started in December 2012.

 

In 2012, output of raw steam coal decreased by 23% compared to 2011 following the repositioning of a longwall at the Gramoteinskaya mine in Q1 2012, as well as suspension of mining at the Gramoteinskaya mine in Q4 2012.

 

Steam coal concentrate production decreased by 40% vs. Q3 2012 and by 51% in 2012 compared to 2011 due to larger raw steam coal sales and lower output.

 

In Q1 2013, steam coal production is expected to decrease vs. Q4 2012 as the Kusheyakovskaya mine will remain suspended for the longwall repositioning until the end of February 2013. In addition, the Gramoteinskaya mine is expected to remain closed in Q1 2013.

 

Average selling prices

 

USD/tonne (ex works)

unless otherwise stated

2012

2011

Q4 2012

Q3 2012

Raw coking coal

69

97

63

65

Raw steam coal

27

36

25

27

Coking coal concentrate

136

203

116

129

Steam coal concentrate

56

80

49

59

 

 

VANADIUM

 

Product, tonnes of V*

 

2012

 

2011

 

2012/ 2011, change

Q4 2012

 

Q3 2012

 

Q4 2012/ Q3 2012, change

Vanadium in slag (gross production)

21,060

20,741

1.5%

5,163

4,528

14.0%

Russia

14,856

12,860

15.5%

3,676

3,618

1.6%

South Africa

6,205

7,881

(21.3)%

1,487

911

63.3%

Vanadium in final products (saleable)







Ferrovanadium

14,381

16,683

(13.8)%

2,773

3,297

(15.9)%

Produced at own facilities

7,259

6,321

14.8%

1,607

1,671

(3.8)%

Processed at 3rd parties' facilities

7,122

10,362

(31.3)%

1,166

1,626

(28.3)%

Nitrovan®

2,723

2,874

(5.3)%

766

782

(2.1)%

Oxides, vanadium aluminium and chemicals

1,330

1,277

4.1%

186

443

(58.0)%

 

* Calculated in pure vanadium equivalent.

 

In Q4 2012, EVRAZ's total production of primary vanadium (vanadium in slag) increased by 14% compared to Q3 2012 after EVRAZ Highveld Steel and Vanadium resumed its operations, which had been interrupted by union industrial action in July-August 2012.

 

Overall, in 2012 the strong performance of Russian operations not only fully offset lower output at EVRAZ Highveld Steel and Vanadium but led to overall growth of production of vanadium in slag at EVRAZ by 2%.

 

In Q4 2012, total ferrovanadium production and ferrovanadium production at third parties' facilities in particular were lower by 16% and 28%, respectively, due to decreased output in South Africa as the required volume of vanadium slag was not delivered to the processing plant due to the transportation strike in the country and lower production of vanadium slag.

 

For full year 2012, EVRAZ increased production of ferrovanadium at its own facilities in the Czech Republic and Russia which were operating at maximum capacity to meet the improved market demand.

 

The decrease in volumes of oxides, vanadium aluminium and chemicals is largely attributable to problems with primary feedstock availability in the United States.

 

The lower output of vanadium slag at EVRAZ Highveld Steel and Vanadium  may adversely affect production of Nitrovan® and ferrovanadium converted at third parties' facilities in Q1 2013.

 

Production of oxides, vanadium aluminium and chemicals in Q1 2013 may be impacted by scheduled maintenance works at EVRAZ Stratcor.

 

Average selling prices

 

USD/tonne of V (ex works)

2012

2011

Q4 2012

Q3 2012

Vanadium in final products





Ferrovanadium

24,062

27,653

23,579

24,517

Nitrovan®

27,900

29,506

26,912

28,615

Oxides, vanadium aluminium and chemicals

32,579

36,194

36,024

30,944

 

 

Notes:

Semi-finished products include slabs, billets, pipe blanks and other semi-finished products.

Construction products include beams, channels, angles, rebars, wire rods, wire, and other construction products.

Railway products include rails, wheels, tyres and other railway products.

Flat-rolled products include commodity plate, specialty plate and other flat products.

Tubular products include large diameter line pipes, ERW pipes and casings, seamless pipes and other tubular products.

Other steel products include rounds, grinding balls, mine uprights, strips etc. For Ukraine they also include railway products, for Europe - slabs and cut shapes; for South Africa - rails.

 

###

 

For further information:

 

Media Relations:
Oleg Kuzmin
VP, Corporate Communications
London: +44 207 832 8998          Moscow: +7 495 937 6871
media@evraz.com

 

Investor Relations:

Sergey Belyakov

Director, Investor Relations
London: +44 207 832 8990          Moscow: +7 495 232 1370

ir@evraz.com

 

EVRAZ is a vertically integrated steel, mining and vanadium business with operations in the Russian Federation, Ukraine, USA, Canada, Czech Republic, Italy and South Africa. EVRAZ is among the top 20 steel producers in the world based on crude steel production of 16.8 million tonnes in 2011. In 2011 EVRAZ sold 15.5 million tonnes of steel products. A significant portion of the company's internal consumption of iron ore and coking coal is covered by its mining operations. The company's consolidated revenues for the year ended 31 December 2011 were US$16,400 million and consolidated EBITDA amounted to US$2,898 million. The H1 2012 consolidated revenue was US$7,619 million and the H1 2012 EBITDA was US$1,175 million.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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EVRAZ Q4 2012 and FY 2012 production update - RNS