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 months.
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.