Russian steel and mining company Severstal's crude steel output increased by 6 percent year-on-year in the first quarter of 2018 to 3.03 million tonnes, the company said on Tuesday.
The company's crude steel sales totaled 2.86 million tonnes, an increase of 13 percent compared to the same period of last year.
Severstal, which largely exports to China, stated that steel and raw material demand remained high in the first quarter of 2018.
'Global steel prices were supported by winter restrictions in China and seasonal increased Chinese demand in March, which contributed towards higher prices of raw materials,' the company said and added that Russian export prices, which are currently exceeding Chinese export prices due to steady demand in most consuming regions, are expected to follow global trends in the second quarter of 2018.
By Murat Temizer
Anadolu Agency
energy@aa.com.tr