Evraz slightly reduced overall crude steel production in the third quarter compared to the previous three months on the back of lower output at its overseas assets, the company said Thursday.
Steel producers have seen output slashed because of sagging demand in China, whose economic boom is cooling.
The company said its North American steel output was flat quarter-on-quarter, at 611 million tons. Crude steel production at its South African mill dropped 49.3 percent to 78 million tons, while its European division has seen a 58.6 percent slump in crude steel to 81 million tons.
"Consolidated crude steel production decreased by 3 percent compared to the second quarter mainly due to lower production at Evraz Vitkovice Steel in Czech Republic and Evraz Highveld in South Africa," the company said.
(Reuters)
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