* Q3 crude steel output down 3 pct q/q to 3.96 mln t
* Steel products output down 4 pct q/q to 3.94 mln t
MOSCOW Oct 18 Russia's largest steelmaker Evraz
said on Friday its third-quarter steel output dropped
from the previous quarter after it shut down assets across the
world due to poor demand.
The company, part-owned by billionaire Chelsea soccer club
owner Roman Abramovich, said its crude steel output fell 3
percent in the third quarter to 3.96 million tonnes.
Like steel firms around the world, Evraz has been downsizing
since signs of a growth slowdown in China and stagnation in
crisis-hit Europe sent steel prices tumbling from all-time highs
Still Evraz produced 1.4 percent more crude steel in the
July through September period than in the same quarter last year
when its figures were severely affected by flagging production
at the Czech and South African enterprises.
The company produced 3.94 million tonnes of steel products
in the third quarter, 3.7 percent less than in the previous
quarter due to sinking output rates and saw its product prices
"Average selling prices for most key steel product groups
continued to be impacted by the downward trends in the global
steel market", the firm said in a statement.
The company added that the quarterly output figures were
also affected by scheduled maintenance at its Russian plant
Evraz ZSMK, which will continue into the fourth quarter.
Evraz recently suspended operations at the Claymont mill in
the United States, Palini e Bertoli in Italy and ran the steel
shop at the Czech plant for just one month in the third quarter.
It has put up for sale its Czech Vitkovice mill and South
African Highveld Steel, trying to slim down in the challenging
Evraz announced output decline a day after third largest
Russian steelmaker Novolipetsk said its quarterly
steel production rose by 3 percent and second biggest steel
group Severstal reported unchanged output.
(Reporting by Andrey Kuzmin; Editing by Maria Kiselyova)