Russia: EVRAZ’s crude steel production remains almost flat in CY’21

EVRAZ posted total crude steel production at 13.5 mnt in CY’21, lower by 0.4% against 13.6 mnt in CY’20. Crude steel output from the company’s facilities in Russia was recorded at 12.05 mnt in CY’21, down 3% y-o-y. Output was affected as the country introduced an export duty effective till end-2021, which led to lower margins from pig iron production.