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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Evraz Plc | LSE:EVR | London | Ordinary Share | GB00B71N6K86 | ORD USD0.05 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 82.68 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Bitmns Coal Undergrnd Mining | 14.16B | 3.03B | 2.0799 | 0.40 | 1.21B |
From Apr 2019 to Apr 2024
TIDMEVR
RNS Number : 4465L
Evraz Plc
19 July 2017
EVRAZ Q2 2017 PRODUCTION REPORT
19 July 2017 - EVRAZ plc (LSE: EVR; "EVRAZ" or the "Group") today released its operational results for the second quarter of 2017.
Q2 2017 vs Q1 2017 OPERATIONAL HIGHLIGHTS:
-- Consolidated crude steel output fell by 9.5% quarter-on-quarter to 3.3 million tonnes in Q2 2017, primarily due to planned capital repairs at EVRAZ ZSMK's oxygen steelmaking converter no. 5 and blast furnace no. 2, as well as planned capital repairs at EVRAZ DMZ' oxygen-converter plant.
-- Production of steel products, net of re-rolled volumes, decreased by 8.0% quarter-on-quarter to 3.0 million tonnes as a result of reduced output of semi-finished products amid planned capital repairs at EVRAZ ZSMK.
-- The share of finished steel products in consolidated volumes rose to 63.8% in Q2 2017, up from 55.6% in Q1 2017, due to lower output of semi-finished products in Russia and Ukraine.
-- Production of construction products increased by 10.5% quarter-on-quarter, as demand for construction products improved with the beginning of construction season.
-- Production of railway products was down 1.9% due to changed product mix on Russian facilities, which was partially offset by higher output in North America (up 10.1% quarter-on-quarter) due to marginally increased demand for rails driven by Class I railroads finalised destocking.
-- Output of flat products rose by 8.4% quarter-on-quarter, mostly following planned maintenance outage at EVRAZ Palini e Bertoli in Q1 2017 as well as due to strengthening demand in North America.
-- Consolidated raw coking coal output increased by 7.9% following a planned longwall repositioning at the Raspadskaya mine in Q1 2017. In addition, open-pit mining operations were started at the site of the Raspadskaya-Koksovaya mine to produce deficit OS (semi-hard) coking coal grade.
STEEL
Hot Features
Premium
Product, '000 tonnes Q2 Q1 2017 Q2 2017/ Q1 2017, change H1 H1 H1 2017/ H1 2016, change
2017 2017 2016
----------------------------- ------- -------- ------------------------- ------ ------ -------------------------
Coke (saleable) 171 118 44.9% 289 457 -36.8%
Pig iron 2,793 2,894 -3.5% 5,687 5,557 2.3%
Pig iron (saleable) 195 44 343.2% 239 188 27.1%
Crude steel 3,328 3,679 -9.5% 7,007 6,739 4.0%
Steel products, gross* 3,211 3,522 -8.8% 6,733 6,461 4.2%
Steel products, net of
re-rolled volumes 2,994 3,255 -8.0% 6,249 6,134 1.9%
Semi-finished products** 1,084 1,446 -25.0% 2,530 2,439 3.7%
Finished products 1,910 1,809 5.6% 3,719 3,695 0.6%
Construction products 970 878 10.5% 1,848 2,075 -10.9%
Railway products 410 418 -1.9% 828 751 10.3%
Flat-rolled
products*** 206 190 8.4% 396 279 41.9%
Tubular products 167 166 0.6% 333 308 8.1%
Other steel products 157 157 0.0% 314 282 11.3%
----------------------------- ------- -------- ------------------------- ------ ------ -------------------------
Note. Numbers in this table and the tables below may not add to totals due to rounding.
* Gross volume of steel products in the tables includes those re-rolled at other EVRAZ mills. However, such volumes are eliminated as inter-company sales for the purposes of EVRAZ' consolidated operating results.
** Consolidated production volumes of semi-finished products are preliminary, as intra-group re-rolling volumes are yet to be finalised.
*** Includes production volumes of EVRAZ Palini e Bertoli (65 thousand tonnes in Q2 2017 and 116 thousand tonnes in H1 2017), which resumed operations in 2016 after suspending them in August 2013.
RUSSIA and KAZAKHSTAN
Product, '000 tonnes Q2 2017 Q1 2017 Q2 2017/ Q1 2017, change H1 H1 H1 2017/ H1 2016, change
2017 2016
-------------------------- -------- -------- ------------------------- ------- ------- -------------------------
Coke (saleable) 75 69 8.7% 144 191 -24.6%
Pig iron 2,537 2,663 -4.7% 5,200 5,020 3.6%
Pig iron (saleable) 90 37 143.2% 127 175 -27.4%
Crude steel 2,762 2,980 -7.3% 5,742 5,444 5.5%
Steel products, gross 2,558 2,806 -8.8% 5,364 5,104 5.1%
Steel products, net of
re-rolled volumes 2,493 2,769 -10.0% 5,262 5,009 5.1%
Semi-finished products 1,178 1,536 -23.3% 2,714 2,408 12.7%
Finished products 1,315 1,232 6.7% 2,547 2,600 -2.0%
Construction products 859 759 13.2% 1,617 1,768 -8.5%
Railway products 311 328 -5.2% 639 570 12.1%
Other steel products 145 145 0.0% 290 262 10.7%
-------------------------- -------- -------- ------------------------- ------- ------- -------------------------
In Q2 2017, production of crude steel and steel products (net of re-rolled volumes) decreased quarter-on-quarter by 7.3% and 10.0%, respectively, due to planned capital repairs at EVRAZ ZSMK's oxygen steelmaking converter no. 5 in April-June and blast furnace no. 2 in June.
The decrease in steel product volumes was primarily caused by reduced output of semi-finished products (down 23.3% quarter-on-quarter), which was partly offset by higher output of construction products (up 13.2% quarter-on-quarter), driven by stronger demand for rebars and channels.
Output of railway products, including rails, was down slightly quarter-on-quarter due to lower volumes at EVRAZ ZSMK in the view of changed product mix. However, volumes increased half-on-half, mainly due to higher volumes at EVRAZ ZSMK amid more favourable demand for rails and wheels in 2017.
Average selling prices
US$/tonne (ex works) Q2 Q1 H1 H1
2017 2017 2017 2016
-------------------------- ------- ------- ------- -------
Coke 172 212 189 83
Pig iron 251 262 255 141
Steel products
Semi-finished products 352 344 347 210
Construction products 499 530 514 348
Railway products 646 621 633 442
Other steel products 501 503 502 357
-------------------------- ------- ------- ------- -------
Overall, steel selling prices in Q2 2017 followed divergent trends according to global benchmarks.
In Q3 2017, crude steel output is expected to increase by roughly 3% due to the completion of capital repairs at EVRAZ ZSMK's blast furnace no. 2 in Q2 2017. Production of finished products is expected to fall as a result of a gas pause at EVRAZ ZSMK in August, as well as capital repairs of the rail mills at EVRAZ NTMK in August-September and at EVRAZ ZSMK in August.
NORTH AMERICA
Product, '000 tonnes Q2 2017* Q1 2017 Q2 2017/ Q1 2017, change H1 2017 H1 H1 2017/ H1 2016, change
2016
------------------------- --------- -------- ------------------------- -------- ------ -------------------------
Crude steel 419 457 -8.3% 876 734 19.3%
Steel products, net of
re-rolled volumes 467 462 -1.1% 929 895 3.8%
Construction products 61 68 -10.3% 129 135 -4.4%
Railway products 98 89 10.1% 187 181 3.3%
Flat-rolled products 141 139 1.4% 280 271 3.3%
Tubular products 167 166 0.6% 333 308 8.1%
------------------------- --------- -------- ------------------------- -------- ------ -------------------------
* Q2 2017 production volumes are preliminary
Crude steel production decreased by 8.3% quarter-on-quarter as a result of a planned outage at the Regina mill in order to install upgrades to the rolling mill, which were part of the previously announced investment projects.
Construction products output declined by 10.3% quarter-on-quarter due to strong import pressure.
Railway products production increased by 10.1% quarter-on-quarter, driven by marginally better demand as Class I railroads finalised destocking.
Production of flat-rolled products increased by 1.4% quarter-on-quarter as a result of strengthening demand.
Production of tubular products remained almost unchanged quarter-on-quarter. Line pipe demand continued to be impacted by uncertainty, while oil country tubular goods (OCTG) experienced a healthy demand recovery combined with gaining share in Western Canada.
Average selling prices
US$/tonne (ex works) Q2 Q1 H1 H1
2017 2017 2017 2016
----------------------- ------- ------- ------- -------
Construction products 635 594 614 512
Flat-rolled products 814 742 776 624
Tubular products 1,015 980 998 982
----------------------- ------- ------- ------- -------
Prices for most steel products increased in Q2 2017, reflecting prevailing scrap and other inputs increases, reduced pressure from imports and positive demand fundamentals.
In Q3 2017, crude steel output is expected to increase by 5-10% quarter-on-quarter, as EVRAZ Regina's availability returns to normal levels after the prolonged planned outage in Q2 2017. Tubular product volumes are expected to experience a modest quarter-on-quarter increase in volume; flat rolled products and construction products are expected to remain essentially unchanged from Q2 2017 levels; and railway product volumes are expected to decrease slightly as a result of an annual maintenance outage in the rail mill during September and of a customary seasonal slowdown in orders expected in the third quarter.
UKRAINE
Product, '000 tonnes Q2 2017 Q1 2017 Q2 2017/ Q1 2017, H1 2017 H1 2016 H1 2017/ H1 2016, change
change
------------------------- -------- -------- ------------------------ -------- -------- -------------------------
Coke (saleable) 96 50 92.0% 146 266 -45.1%
Pig iron 257 232 10.8% 489 537 -8.9%
Pig iron (saleable) 106 7 n/a 113 14 n/a
Crude steel 147 241 -39.0% 388 560 -30.7%
Steel products 120 203 -40.9% 323 455 -29.0%
Semi-finished products 58 139 -58.3% 197 263 -25.1%
Finished products 62 63 -1.6% 125 192 -34.9%
Construction products 50 52 -3.8% 102 172 -40.7%
Other steel products 12 12 0% 24 20 20.0%
------------------------- -------- -------- ------------------------ -------- -------- -------------------------
In Q2 2017, saleable coke volumes increased by 92.0% quarter-on-quarter in response to higher domestic demand and increased pig iron output.
Pig iron production went up 10.8% amid increased blast furnace productivity, with saleable pig iron increase due to reduced billet production (which had a lower margin in the product mix).
Production of crude steel and steel products decreased by 39.0% and 40.9% quarter-on-quarter, respectively, (they were also down half-on-half) after cutting production of low-margin semi-finished products in February-May and capital repairs at EVRAZ DMZ' oxygen-converter plant and rolling mill no. 1.
Average selling prices
US$/tonne (ex works) Q2 Q1 H1 H1
2017 2017 2017 2016
-------------------------- ------- ------- ------- -------
Coke (saleable) 230 274 245 125
Pig iron 322 314 321 196
Steel products
Semi-finished products 353 335 340 254
Construction products 474 456 465 357
Other steel products 667 604 636 484
-------------------------- ------- ------- ------- -------
Overall, prices moved in line with global benchmarks. In Q2 2017, changes in saleable coke prices primarily reflected lower coal prices.
In Q3 2017, pig iron production is expected to increase following repairs at EVRAZ DMZ' rolling mill no. 1 and oxygen-converter plant in Q2 2017, accompanied by expected higher blast furnace productivity in Q3 2017. Consequently, output of crude steel and steel products (billets) is expected to increase quarter-on-quarter.
IRON ORE
Product, '000 tonnes Q2 Q1 Q2 2017/ Q1 2017, change H1 H1 H1 2017/ H1 2016, change
2017 2017 2017 2016
---------------------- ------- ------- ------------------------- ------- ------- -------------------------
Iron ore products* 4,536 4,984 -9.2% 9,520 9,844 -3.3%
---------------------- ------- ------- ------------------------- ------- ------- -------------------------
* Includes production of sinter, pellets and other iron ore products
In Q2 2017, production of iron ore decreased by 9.2% quarter-on-quarter, mainly due to lower volumes of sinter amid capital repairs at EVRAZ ZSMK's sintering machines no. 1 and no. 2. The reduced output of pellets was also partly caused by the accidental outage of EVRAZ KGOK's indurating machine no. 2 in June.
Average selling prices
US$/tonne (ex works) Q2 Q1 H1 H1
2017 2017 2017 2016
---------------------- ------ ------ ------ ------
Pellets (Russia) 66 84 74 36
---------------------- ------ ------ ------ ------
Prices for pellet moved in line with global benchmarks.
In Q3 2017, sinter output is expected to decrease by roughly 2.5% quarter-on-quarter, mainly due to capital repairs of sintering machine no. 2 at EVRAZ KGOK in September. Following the accidental outage of EVRAZ KGOK's indurating machine no. 2 in Q2 2017, output of pellets should increase by roughly 5% quarter-on-quarter in Q3 2017.
COAL
Product, '000 tonnes Q2 Q1 Q2 2017/ H1 H1 H1 2017/
2017 2017 Q1 2017, H1 2016,
change change
2017 2016
------------------------------ ------ ------ ---------- ------- ------- ----------
Raw coking coal (mined) 6,048 5,603 7.9% 11,651 11,016 5.8%
Yuzhkuzbassugol 2,761 2,502 10.4% 5,263 5,928 -11.2%
Raspadskaya 3,071 2,886 6.4% 5,957 4,883 22.0%
Mezhegeyugol 216 215 0.5% 431 206 109.6%
Coking coal concentrate
(production) 3,612 3,605 0.2% 7,217 7,297 -1.1%
Yuzhkuzbassugol's coal
washing plants 1,491 1,491 0.0% 2,982 3,321 -10.2%
Raspadskaya's coal washing
plant 1,615 1,634 -1.2% 3,249 3,120 4.1%
EVRAZ ZSMK's coal washing
plant 506 480 5.4% 986 857 15.1%
------------------------------ ------ ------ ---------- ------- ------- ----------
Production of raw coking coal increased by 7.9% following the planned longwall repositioning in Q1 2017 at the Raspadskaya mine, accompanied by stable work at the Raspadskaya mine's three longwalls.
In addition, open-pit mining operations were started at the site of the Raspadskaya-Koksovaya mine to produce deficit OS (semi-hard) coking coal grade.
Output of coking coal concentrate remained almost unchanged quarter-on-quarter due to higher production at EVRAZ ZSMK's coal washing plant.
Average selling prices
Q2 Q1 H1 H1
US$/tonne (ex works) 2017 2017 2017 2016
------------------------- ------- ------- ------- -------
Raw coking coal 52 86 69 32
Coking coal concentrate 103 155 129 56
------------------------- ------- ------- ------- -------
In Q2 2017, coal prices were down in line with global benchmarks.
In Q3 2017, raw coal production is expected to increase slightly following the longwall repositioning at the Erunakovskaya-8 mine in Q2 2017. This will be partially offset by the scheduled longwall repositioning at the Raspadskaya mine in Q3 2017.
VANADIUM
Product, tonnes of V* Q2 Q1 Q2 2017/ H1 2017 H1 2016 H1 2017/
2017 2017 Q1 2017, H1 2016,
change change
--------------------------------- ------ ------ ---------- -------- -------- ----------
Vanadium slag, gross production
(Russia) 4,795 4,553 5.3% 9,348 8,267 13.1%
Vanadium in final products
(saleable) 2,641 3,291 -19.8% 5,932 6,606 -10.2%
--------------------------------- ------ ------ ---------- -------- -------- ----------
(*) Calculated in pure vanadium equivalent
In Q2 2017, output of saleable vanadium products decreased by 19.8% quarter-on-quarter, primarily due to the discontinuation of Nitrovan production as a result of Vametco's divestment in April.
Average FeV indices
US$/kgV Q2 Q1 H1 H1
2017 2017 2017 2016
---------------------------------------------------------------------------------- ------- ------- ------- -------
Metal Bulletin Ferro-Vanadium basis 78% min, free DDP, consumer plant, 1st grade
Western Europe 27.01 25.31 26.14 16.52
Ryan's Notes N.A. FeV 80% min, US ex-warehouse, duty paid 27.10 27.24 27.18 18.38
---------------------------------------------------------------------------------- ------- ------- ------- -------
Sale prices for vanadium products followed market trends.
In Q2 2017, the Metall Bulletin FeV80 index averaged US$27.01/kgV, up 7% from US$25.31/kgV in Q1 2017. Meanwhile, the Ryan's Notes index, used in North America, averaged US$27.10/kgV in Q2 2017, down 1% from US$27.24/kgV in the previous quarter.
Notes:
Semi-finished products include slabs, billets, pipe blanks and other semi-finished products.
Construction products include beams, channels, angles, rebars, wire rods, wire, and other construction products.
Railway products include rails, wheels, tyres and other railway products.
Flat-rolled products include commodity plate, specialty plate and other flat products.
Tubular products include large-diameter line pipes, ERW pipes and casings, seamless pipes and other tubular products.
Other steel products include rounds, grinding balls, mine uprights, strips, etc. They also include railway products for Ukraine.
###
For further information:
Media Relations:
London: +44 207 832 8998 Moscow: +7 495 937 6871
media@evraz.com
Investor Relations:
London: +44 207 832 8990 Moscow: +7 495 232 1370
ir@evraz.com
EVRAZ is a vertically integrated steel, mining and vanadium business with operations in the Russian Federation, Ukraine, Kazakhstan, USA, Canada, Czech Republic and Italy. EVRAZ is among the top steel producers in the world based on crude steel production of 13.5 million tonnes in 2016. A significant portion of the company's internal consumption of iron ore and coking coal is covered by its mining operations. The company's consolidated revenues for the year ended 31 December 2016 were US$7,713 million, and consolidated EBITDA amounted to US$1,542 million.
This information is provided by RNS
The company news service from the London Stock Exchange
END
DRLLIFIEDTIALID
(END) Dow Jones Newswires
July 19, 2017 02:00 ET (06:00 GMT)
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