Weak markets hit Severstal sales

Russian steel miner Severstal yesterday said that third-quarter crude steel production was in line with the previous quarter, but sales had decreased by four per cent due to “slightly weaker domestic and export markets”. Prices for steel products decreased by between one per cent and 18 per cent in the third quarter, the company said. Severstal is listed in Russia and its GDRs are traded on the London Stock Exchange.