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Steel maker Evraz Thursday reported a jump in first-half profit amid a boost from rising steel prices.
For the six months ended 30 June, pre-tax profit jumped to $1.63 billion from $931 million year-on-year as revenue increased 34.3 % to $4.6 billion.
'The recovery on the global steel market observed since the second half of 2020 accelerated in the first half of 2021. Activity in steel-consuming industries continued returning to pre-pandemic levels, driving steel prices and demand,' the company said.
Looking ahead, the company appeared caution on steel prices.
'In the second half of 2021, we expect global markets to remain fairly healthy, despite a possible correction in steel prices,'