Evraz Output Drops 6%

By The Moscow Times

April 18, 2013

Evraz's crude steel output fell 6 percent year on year to 4.07 million tons in the first quarter, Russia's largest steelmaker said Thursday, sending its shares to a record low.

Output rose 11 percent quarter on quarter helped by a lack of maintenance work.

Evraz, whose 2012 net profit missed market expectations, said earlier in April that the outlook for the global steel industry would remain fragile this year.

The company, part-owned by Chelsea soccer club owner Roman Abramovich, said it produced 4.8 million tons of raw coking coal, up 8.7 percent from the fourth quarter of 2012 and up 30 percent year on year.

Production of finished steel goods was flat quarter on quarter at 2.7 million tons.

(Reuters)

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue