MOSCOW, April 29 (RIA Novosti) - Russian steelmaking giant Severstal said on Wednesday its crude steel output had declined 21%, year-on-year, in January-March to 3.8 million metric tons.
The production of rolled products declined 18% in the reporting period to 2.9 million metric tons, output of cast iron fell 20% to 2.6 million metric tons and coal 32% to 2.6 million metric tons, Severstal said.
Severstal earlier announced that its net profit under International Financial Reporting Standards increased 9.9% in 2008 year-on-year to $2.03 billion.
Severstal accounts for over 16% of Russian steel output and has production facilities in Russia, the United States, Italy, France, Britain, and Ukraine.
