Output drops at Severstal

RUSSIAN steelmaker Severstal yesterday posted a one per cent drop in crude steel output over 2012, with the biggest drop seen in its Russian operations.

The steelmaker said that crude production of the metal fell to 15.14m tonnes last year, down from 15.29m tonnes over the previous year.

Russian steel output plunged seven per cent year on year, Severstal said yesterday, to a total of 10.55m tonnes.

Over the fourth quarter of last year, output dropped five per cent to 3.58m tonnes, from 3.76m the year previously.