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Severstal sales of iron ore, coking coal down; prices fall

Keywords: Tags  Severstal, iron ore, coking coal, Michelle Madsen

LONDON — Russian steelmaker OAO Severstal reported lower iron ore and coking coal sales in the first three quarters of this year compared with the same period in 2012.

Iron ore concentrate sales totaled 3.51 million tonnes, down 3 percent from 3.62 million tonnes in the first nine months of last year, while coking coal concentrate sales of 5.44 million tonnes slipped 1.8 percent from 5.54 million tonnes in the same comparison.

Iron ore pellet sales fell 6.3 percent to 2.51 million tonnes in the third quarter from 2.68 million tonnes in the previous three months due partly to what the company said were "exceptionally high" sales in the second quarter.

Iron ore pellet prices have averaged $105 per tonne this year, down 8 percent from the first nine months of 2012, while prices for coking coal concentrate dropped 22 percent to $110 per tonne in the same comparison.

Severstal also reported lower steel product sales in the third quarter due to weaker domestic and export market demand.

A version of this article was first published by AMM sister publication Steel First.

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