London—Russian steel and mining group Severstal increased consumption of iron ore pellets and concentrate at its Cherepovets works in the third quarter, and sold less externally as group iron ore production grew. Rather than maximizing external sales of pellets at lower premiums, the company has targeted new export business such as adding customers in blast furnace and DR-grade pellets this year, and improving cost margins at its Russian operations. Severstal’s iron ore pellet sales increased by 3% to 2.61 million mt in Q3, from the second quarter, while external sales fell 7% quarteron- quarter to 1.355 million mt in Q3, the company said in an update dated Oct. 9.
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