Severstal holds fnancial position despite lower prices

摘要

Severstal posted strong proftability in Q3 despite the global price decrease. The producer hopes to hold its position in 2019.Severstal’s consolidated revenue lowered by 3% in Q3 compared to the previous quarter, which was mainly attributed to lower steel and raw material prices. How- ever, a strategic focus at full vertical integration, which let the company increase business effciency and reduce costs, also allowed to raise operating proft (+7%) and net proft (+3%) during the reviewed period, Metal Expert learnt. Apart from that, the company’s fnancial positions were also supported by sale of a longs asset for $215 million. “In Q3 2019, we completed the sale of Balakovo mini-mill and will now focus on the HVA products within our portfolio,” commented Alexander Sheve- lev, CEO of Severstal Management.