Support The Moscow Times!

Evraz Output Drops 6%

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.


Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.