StockMarketWire.com - Miner Evraz reported a rise in quarterly steel sales in the fourth quarter of last year, as output was bolstered by higher production volumes at its steel mill in Russia after scheduled maintenance.

Steel product sales climbed by 6.6% on-quarter, driven primarily by semi-finished products, which grew by 17.7% while crude steel output rose by 2.1%, mainly due to 'higher production volumes at EVRAZ ZSMK after the scheduled capital repairs during July-August ended,' the company said.

For the year, steel production climbed by 6.1% and sales volumes of semi-finished products jumped by 22.8%.

Raw coking coal production decreased by 5.3% on-quarter due to lower production volumes and coaking coal concentrate production dropped by 16.7% on-quarter due to softer market demand.

External sales of iron ore products surged by 68.5%, but sales of vanadium final products were down by 2.0% due to lower iron demand mainly from North American steel producers amid reduced utilisation rates, Evraz said.

At 8:33am: [LON:EVR] Evraz Plc share price was +3p at 372.4p



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