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Severstal's sales slump but rising prices offer hope

Sales at one of Russia’s largest steel producer, Severstal, slumped in the December quarter but a recent pickup in prices is set to boost its first quarter 2021 performance.

 Severstal's sales slump but rising prices offer hope  Severstal's sales slump but rising prices offer hope  Severstal's sales slump but rising prices offer hope  Severstal's sales slump but rising prices offer hope  Severstal's sales slump but rising prices offer hope

Steel sales at Russia’s largest producer Severstal slumped in the December quarter

Sales of steel products declined in the December quarter by 18% quarter on quarter to 2.45 million tonnes, worse than JP Morgan's forecast of a 13% drop.