NEW YORK Severstal North America Inc. posted
second-quarter production and sales volume increases, but saw
its finished steel prices tumble.
The Dearborn, Mich.-based steelmaker produced some 1.28
million tonnes of crude steel in the second quarter, up 9.1
percent from nearly 1.18 million tonnes in the first quarter.
Production for the first half of the year was 2.46 million
tonnes, relatively flat compared with almost 2.44 million
tonnes in the same period last year, Moscow-based-parent
company OAO Severstal said July 23.
North American production of liquid pig iron increased 4.4
percent to 510,369 tonnes, while the half-year figures rose
4.9 percent year on year.
Severstal NAs total steel product sales volumes of 1.17
million tonnes during the quarter was up 5.2 percent from the
first quarter. Of that, hot-rolled coil and plate products
logged a 9.6-percent increase, and galvanized and metallic
coated coil rose 2.9 percent. However, cold-rolled coil
volumes dropped 7.7 percent.
The company increased its sales significantly
with its steelmaking facilities running almost at full
capacity in the quarter, it said.
Average selling prices for the companys rolled products
slipped to $787 per tonne in the second quarter, down 2.6
percent from $808 per tonne in the preceding three
Prices for key steel products decreased in the second
half of (the second quarter) following the correction in
global steel prices, the company said. This
deceleration primarily impacted hot-rolled products, while
average prices for cold-rolled and galvanized products
remained flat quarter over quarter.
In the second quarter, high value-added products comprised 44
percent of the companys sales portfolio, down from 46
percent in the previous quarter.