According to Russia’s Evraz Group, Russia mining and steel maker, announced
its earnings for the first half of the year. Consolidated sales of US$4.89 billion, down 28.1% year on year. Consolidated EBITDA was US$1.92 billion, down 14.6% year on year. Net profit was US$19 million, compared to the same period last year to US$15 million.

Meanwhile, Evraz Group said its sales performance in the second half of this year is expected to continue to suffering from steel and raw materials market weakness and currency fluctuations. Therefore, the company expected its demand for steel products would be down slightly, because Russia market remained weak.