Evraz decides to cut down output in CIS and Europe

Evraz decides to cut down output in CIS and Europe

Affected by the global economic slump, every spot across the world seems moribund. As a result, Evraz Group, one of Russia’s largest steel and mining companies, made up its mind to reduce its production. Evraz’s result for third quarter show a dip in saleable coke output of 32.7% to 438,000t. In Russia, production of saleable coke fell by 61% to 235,000t, compared to 602,000t in Q3 last year. At Evraz’s Dnepropetrovsk Steel Works and coke plants in Ukraine, production of all products plunged in a region of 25% with the exception of railway products. Its European production of crude steel increased by 6.5% compared to Q2 but fell by 5.5% as compared to Q3 2007, to 219,000t. As for rolled products, its production sank down to 344,000t, down 9.6% and 5.5% compared to Q2 2008 and Q3 2007, respectively.