OREANDA-NEWS. April 16, 2010. Veles Capital released daily market review:

Polimetal upped the gold mining by 54%, silver – by 12% in 1Q. In 1Q 2010 Polimetal increased the gold mining by 54% versus the similar period of the previous year to 100 th troy ounces. Extraction of silver grew by 12% to 4.9 mn ounces. Growth of gold output was provided by upping of metal content in ore at Dukat and Vorontsovskoe, and also the purchase of Varvarinskoe deposit in Kazakhstan last year. Not accounting the Varvarinskoe, growth of gold output in 1Q 2010 would have formed 26%. Gold output at Vorontsovskoe deposit grew by 51% to 43.6 th troy ounces, output at Varvarinskoe totaled 18.3 th ounces, at Hakanzhe – 27 th ounces (growth by 3%), at Dukat and Lunnoe – 11.5 th ounces (growth by 14%).

Evraz reduced steel output in 1Q 2009 versus from 4Q by 6% to 4 mn tons. Evraz reduced steel output in 1Q by 6% versus 4Q 2009 to 4 mn tons. Versus 1Q 2009 production grew by 17.9%. Cast iron production formed 3 mn tons, having lowered by 4.4% versus the previous quarter, growth of smelting formed 16% versus the similar period of the previous year. Rolled metal production (including rerolling) formed 3.56 mn tons, which is 5.8% lower than the estimate of 4Q (+4.5% by 2009). At the same time the output of blanks reduced versus the 4Q by 29.5% to 941 th tons. (-24.8% by 2009).

In 1Q NLMC lowered the output of steel by 6% to 2.8 mn tons. Novolipetsk metallurgy company reduced steel output by 6% versus the previous quarter to 2.8mn tons. Selling of commodity metal products grew by 1% to 2.8 mn tons, mainly on behalf of upping of the slab and rolled metal selling volumes. Volume of selling of billets dropped twice lower.