2 Feb 2010 09:00
Severstal Releases Q4 2009 Operational Results
February 02, 2010 - Severstal (LSE: SVST) today released its Q4 2009 operational results.
PRODUCTION VOLUMES
Q4 2009 overview
Production of crude steel in Q4 2009 was 4 621 thousand tonnes, 2% higher than in the previous quarter. Production of rolled products also increased by 1% to 3 467 thousand tonnes q-o-q. Total production of iron ore pellets in Q4 2009 was 11% higher than in Q3 2009, iron ore concentrate production decreased by 10% and coal production was up by 16%.
In 2009 production volumes for Metalware and the Izhora Pipe Mill are being included in the Russian Steel division. Due to these changes we have restated FY 2008 production numbers for the Russian Steel division. PBS Coals was added to consolidation perimeter in December 2008. Due to this PBS Coals' data for FY 2008 wasn't included in this report.
Consolidated production of hot metal and crude steel
| Total throughput, metric tonnes | Q4 2009 | Q3 2009 | Change,% | 2009 | 2008 | Change,% |
| Hot metal: total throughput | 3 391 848 | 3 304 890 | 3% | 12 098 564 | 13 515 383 | -10% |
| Crude steel: total throughput | 4 620 843 | 4 518 672 | 2% | 16 749 365 | 19 217 418 | -13% |
Consolidated production (net of intercompany sales)
| Production for sale, metric tonnes unless otherwise stated | Q4 2009 | Q3 2009 | Change,% | 2009 | 2008 | Change,% |
| Coal: | 1 559 345 | 1 500 714 | 4% | 5 138 927 | 3 912 044 | 31% |
| Coking coal concentrate | 522 455 | 328 106 | 59% | 1 077 942 | 1 515 689 | -29% |
| PBS Coals | 343 998 | 114 872 | 199% | 528 293 | - | - |
| Coking coal | 80 659 | 11 664 | 592% | 180 228 | 173 946 | 4% |
| Steam coal | 956 231 | 1 160 945 | -18% | 3 880 757 | 2 222 408 | 75% |
| PBS Coals | 116 986 | 446 958 | -74% | 1 475 515 | - | - |
| Iron ore: | 1 448 001 | 1 442 325 | 0% | 4 574 486 | 4 684 323 | -2% |
| Iron ore pellets | 1 448 001 | 1 329 536 | 9% | 4 461 696 | 4 217 312 | 6% |
| Iron ore concentrate | 0 | 112 789 | n.m. | 112 789 | 467 011 | -76% |
| Gold (oz tr.) | 166 274 | 143 614 | 16% | 533 967 | 192 822 | 177% |
| Semifinished products | 433 281 | 551 133 | -21% | 1 481 396 | 2 199 621 | -33% |
| Rolled products: | 3 466 660 | 3 425 766 | 1% | 12 676 439 | 15 251 238 | -17% |
| Hot-rolled strip and plate | 1 599 886 | 1 734 119 | -8% | 6 125 806 | 6 766 693 | -9% |
| Cold-rolled sheet | 713 775 | 717 026 | 0% | 2 577 532 | 2 320 351 | 11% |
| Galvanised and metallic coated sheet | 524 084 | 489 587 | 7% | 1 785 395 | 1 973 759 | -10% |
| Color coated sheet | 73 889 | 80 851 | -9% | 281 257 | 236 914 | 19% |
| Long products | 555 025 | 404 184 | 37% | 1 906 449 | 3 953 521 | -52% |
| Downstream products: | 394 446 | 422 388 | -7% | 1 479 426 | 1 885 281 | -22% |
| Metalware products | 178 581 | 229 120 | -22% | 785 152 | 1 009 055 | -22% |
| Large diameter pipes | 99 604 | 80 432 | 24% | 267 282 | 437 853 | -39% |
| Other tubes and pipes, formed shapes | 116 261 | 112 835 | 3% | 426 992 | 438 373 | -3% |
Segmental information
Mining
| Production for sale, metric tonnes unless otherwise stated | Q4 2009 | Q3 2009 | Change,% | 2009 | 2008 | Change,% |
| Coal: | 2 828 378 | 2 446 559 | 16% | 9 107 540 | 7 518 957 | 21% |
| Coking coal concentrate | 1 791 488 | 1 273 951 | 41% | 5 046 555 | 4 573 604 | 10% |
| PBS Coals | 606 534 | 185 148 | 228% | 904 348 | - | - |
| Coking coal | 80 659 | 11 664 | 592% | 180 228 | 722 943 | -75% |
| Steam coal | 956 231 | 1 160 945 | -18% | 3 880 757 | 2 222 409 | 75% |
| PBS Coals | 116 986 | 446 958 | -74% | 1 475 515 | - | - |
| Iron ore: | 3 905 856 | 3 786 182 | 3% | 13 629 369 | 13 978 683 | -2% |
| Iron ore pellets | 2 649 586 | 2 394 946 | 11% | 8 533 214 | 9 304 468 | -8% |
| Iron ore concentrate | 1 256 270 | 1 391 236 | -10% | 5 096 155 | 4 674 215 | 9% |
| Gold (oz tr.) | 166 274 | 143 614 | 16% | 533 967 | 192 822 | 177% |
Russian Steel
| Total throughput, metric tonnes | Q4 2009 | Q3 2009 | Change,% | 2009 | 2008 | Change,% |
| Hot metal: total throughput | 2 033 846 | 2 001 667 | 2% | 7 223 380 | 8 125 096 | -11% |
| Crude steel: total throughput | 2 649 338 | 2 703 784 | -2% | 9 547 770 | 11 096 916 | -14% |
| Production for sale, metric tonnes | ||||||
| Semifinished products | 214 205 | 303 136 | -29% | 842 142 | 908 984 | -7% |
| Rolled products: | 1 870 654 | 1 908 594 | -2% | 6 891 189 | 7 747 005 | -11% |
| Hot-rolled strip and plate | 1 144 784 | 1 164 696 | -2% | 4 191 657 | 4 208 715 | 0% |
| Cold-rolled sheet | 370 023 | 370 736 | 0% | 1 326 609 | 1 358 257 | -2% |
| Galvanised and metallic coated sheet | 146 427 | 152 352 | -4% | 490 360 | 669 148 | -27% |
| Color coated sheet | 55 798 | 58 187 | -4% | 220 814 | 219 761 | 0% |
| Long products | 153 621 | 162 624 | -6% | 661 750 | 1 291 125 | -49% |
| Downstream products: | 364 542 | 381 629 | -4% | 1 349 810 | 1 784 088 | -24% |
| Metalware products | 148 564 | 188 162 | -21% | 654 386 | 907 729 | -28% |
| Large diameter pipes | 99 604 | 80 460 | 24% | 267 859 | 437 853 | -39% |
| Other tubes and pipes, formed shapes | 116 374 | 113 006 | 3% | 427 565 | 438 505 | -2% |
North America
| Total throughput, metric tonnes | Q4 2009 | Q3 2009 | Change,% | 2009 | 2008 | Change,% |
| Hot metal: total throughput | 922 220 | 964 326 | -4% | 3 456 433 | 3 200 804 | 8% |
| Crude steel: total throughput | 1 436 499 | 1 444 848 | -1% | 5 455 219 | 5 099 912 | 7% |
| Production for sale, metric tonnes | ||||||
| Rolled products: | 1 194 739 | 1 275 632 | -6% | 4 541 282 | 4 417 256 | 3% |
| Hot-rolled strip and plate | 455 143 | 569 443 | -20% | 1 934 783 | 2 086 817 | -7% |
| Cold-rolled sheet | 343 848 | 346 290 | -1% | 1 251 020 | 1 008 674 | 24% |
| Galvanised and metallic coated sheet | 377 657 | 337 235 | 12% | 1 295 035 | 1 304 611 | -1% |
| Color coated sheet | 18 091 | 22 664 | -20% | 60 443 | 17 153 | 252% |
| Downstream products: | 21 361 | 31 878 | -33% | 92 912 | 62 873 | 48% |
| Metalware products | 21 361 | 31 878 | -33% | 92 912 | 62 873 | 48% |
Lucchini
| Total throughput, metric tonnes | Q4 2009 | Q3 2009 | Change,% | 2009 | 2008 | Change,% |
| Hot metal: total throughput | 435 782 | 338 897 | 29% | 1 418 751 | 2 189 483 | -35% |
| Crude steel: total throughput | 535 005 | 370 040 | 45% | 1 746 376 | 3 020 591 | -42% |
| Production for sale, metric tonnes | ||||||
| Semifinished products | 210 495 | 250 618 | -16% | 613 454 | 981 723 | -38% |
| Rolled products: | 409 220 | 251 507 | 63% | 1 272 897 | 2 151 315 | -41% |
| Long products | 409 220 | 251 507 | 63% | 1 272 897 | 2 151 315 | -41% |
| Downstream products: | 9 211 | 9 463 | -3% | 39 590 | 39 743 | 0% |
| Metalware products | 9 211 | 9 463 | -3% | 39 590 | 39 743 | 0% |
AVERAGE SELLING PRICES
Consolidated sales
| Sales prices (EXW), USD/tonne unless otherwise stated | Q4 2009 | Q3 2009 | Change,% | 2009 | 2008 | Change,% |
| Coal: | 76 | 62 | 23% | 66 | 106 | -38% |
| Coking coal concentrate | 103 | 75 | 36% | 88 | 147 | -40% |
| PBS Coals | 109 | 107 | 2% | 106 | 110 | -4% |
| Coking coal | 26 | 26 | 0% | 19 | 53 | -64% |
| Steam coal | 37 | 39 | -4% | 40 | 35 | 12% |
| PBS Coals | 51 | 57 | -10% | 58 | 63 | -8% |
| Iron ore: | 47 | 39 | 20% | 42 | 92 | -54% |
| Iron ore pellets | 51 | 44 | 18% | 46 | 103 | -55% |
| Iron ore concentrate | 39 | 32 | 21% | 35 | 72 | -51% |
| Gold (USD/oz tr.) | 1 072 | 959 | 12% | 982 | 887 | 11% |
| Semifinished products | 388 | 388 | 0% | 385 | 727 | -47% |
| Rolled products: | 676 | 590 | 15% | 622 | 996 | -38% |
| Hot-rolled strip and plate | 553 | 476 | 16% | 488 | 888 | -45% |
| Cold-rolled sheet | 651 | 548 | 19% | 601 | 920 | -35% |
| Galvanised and metallic coated sheet | 901 | 817 | 10% | 844 | 1 059 | -20% |
| Color coated sheet | 1 266 | 1 051 | 20% | 1 065 | 1 452 | -27% |
| Long products | 780 | 699 | 12% | 758 | 1 141 | -34% |
| Downstream products: | 1 242 | 1 038 | 20% | 1 119 | 1 507 | -26% |
| Metalware products | 1 051 | 943 | 11% | 990 | 1 355 | -27% |
| Large diameter pipes | 2 096 | 1 840 | 14% | 1 994 | 2 786 | -28% |
| Other tubes and pipes, formed shapes | 666 | 579 | 15% | 585 | 1 035 | -43% |
Mining
| Sales prices (EXW), USD/tonne unless otherwise stated | Q4 2009 | Q3 2009 | Change,% | 2009 | 2008 | Change,% |
| Coal: | 76 | 62 | 23% | 66 | 106 | -38% |
| Coking coal concentrate | 103 | 75 | 36% | 88 | 147 | -40% |
| PBS Coals | 109 | 107 | 2% | 106 | 110 | -4% |
| Coking coal | 26 | 26 | 0% | 19 | 53 | -64% |
| Steam coal | 37 | 39 | -4% | 40 | 35 | 12% |
| PBS Coals | 51 | 57 | -10% | 58 | 63 | -8% |
| Iron ore: | 47 | 39 | 20% | 42 | 92 | -54% |
| Iron ore pellets | 51 | 44 | 18% | 46 | 103 | -55% |
| Iron ore concentrate | 39 | 32 | 21% | 35 | 72 | -51% |
| Gold (USD/oz tr.) | 1 072 | 959 | 12% | 982 | 887 | 11% |
Russian Steel
| Sales prices (EXW), USD/tonne | Q4 2009 | Q3 2009 | Change,% | 2009 | 2008 | Change,% |
| Semifinished products | 375 | 341 | 10% | 339 | 681 | -50% |
| Rolled products: | 571 | 501 | 14% | 496 | 939 | -47% |
| Hot-rolled strip and plate | 520 | 462 | 13% | 453 | 908 | -50% |
| Cold-rolled sheet | 586 | 485 | 21% | 504 | 910 | -45% |
| Galvanised and metallic coated sheet | 869 | 726 | 20% | 719 | 1 153 | -38% |
| Color coated sheet | 1 271 | 1 030 | 23% | 1 040 | 1 470 | -29% |
| Long products | 517 | 470 | 10% | 456 | 866 | -47% |
| Downstream products: | 1 241 | 1 009 | 23% | 1 091 | 1 517 | -28% |
| Metalware products | 1 010 | 857 | 18% | 898 | 1 343 | -33% |
| Large diameter pipes | 2 096 | 1 840 | 14% | 1 994 | 2 786 | -28% |
| Other tubes and pipes, formed shapes | 666 | 579 | 15% | 585 | 1 049 | -44% |
North America
| Sales prices (EXW), USD/tonne | Q4 2009 | Q3 2009 | Change,% | 2009 | 2008 | Change,% |
| Rolled products: | 758 | 664 | 14% | 709 | 965 | -27% |
| Hot-rolled strip and plate | 629 | 506 | 24% | 558 | 903 | -38% |
| Cold-rolled sheet | 715 | 615 | 16% | 692 | 979 | -29% |
| Galvanised and metallic coated sheet | 910 | 849 | 7% | 880 | 1 040 | -15% |
| Color coated sheet | 1 251 | 1 118 | 12% | 1 157 | 1 709 | -32% |
| Downstream products: | 1 368 | 1 388 | -1% | 1 488 | 1 823 | -18% |
| Metalware products | 1 368 | 1 388 | -1% | 1 488 | 1 823 | -18% |
Lucchini
| Sales prices (EXW), USD/tonne | Q4 2009 | Q3 2009 | Change,% | 2009 | 2008 | Change,% |
| Semifinished products | 402 | 419 | -4% | 440 | 717 | -39% |
| Rolled products: | 910 | 891 | 2% | 944 | 1 334 | -29% |
| Long products | 910 | 891 | 2% | 944 | 1 334 | -29% |
| Downstream products: | 1 014 | 966 | 5% | 1 017 | 1 249 | -19% |
| Metalware products | 1 014 | 966 | 5% | 1 017 | 1 249 | -19% |
Note:
Semifinished products include hot metal, pig iron, slabs, billets, ingots, steel casting and forgings.