Sales Of Vanadium Products Fell By 3.6% QoQ From EVRAZ

EVRAZ plc (LSE: EVR; “EVRAZ” or the “Group”) today released its trading update for the second quarter of 2021.

Q2 2021 vs Q1 2021 HIGHLIGHTS

In Q2 2021, EVRAZ’ consolidated crude steel output remained almost flat QoQ.

Total sales of steel products climbed by 6.1% QoQ, driven primarily by higher sales of finished products in Russia amid favourable market conditions and an increase in slab sales following the completion of repairs of basic oxygen furnaces at EVRAZ NTMK in Q1 2021.

Total raw coking coal production dropped by 21.5% QoQ. The reduction was caused primarily by scheduled longwall movements at the Raspadskaya and Alardinskaya mines, as well as completion on the current longwall at the Osinnikovskaya mine ahead of the upcoming movement in Q3 2021.

External sales volumes of coking coal concentrate fell by 8.3% QoQ because of logistical restrictions on shipments to the Russian Far East amid rising exports and the start of the repair season at Russian Railways.

External sales of iron ore products increased by 8.4% QoQ, driven by higher production in Q2 2021.

Sales of vanadium products fell by 3.6% QoQ, mainly due to changing the regional sales and product mix to support the increased FeV demand, resulting in longer lead times.

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