Severstal has announced financial results of its scrap procuring assets for Q1 2010

Reportedly, Severstal-Vtormet sold secondary materials for USD 42.3M in Q1 2010 which is 3.5 times more compared to the corresponding period of 2009. EBITDA index over the first 3 months of 2010 reached USD 2. 377k. When analyzing financial results for Q1 2010 we point out positive dynamics, said I. Malkov, Severstal-Vtorment Director General. Growth in sales has been achieved mainly by increase in volume of raw materials dispatch due to new assets in Kazan and Nevinnomyssk. Increase in dispatch volumes has been registered at all the Severstal-Vtorment assets in Q1 2010. The total ferrous raw materials sales volume increased by 40% in Q1 2010 compared to the corresponding period of 2009 reaching 152k tons.