Severstal announces idling of its hot-end facilities at Severstal Sparrows Point

Severstal (LSE: SVST), one of the world’s leading integrated steel and mining companies, announces the idling of its hot-end facilities at Severstal Sparrows Point, as of July 25, 2010 as previously scheduled. The idling of blast furnace and steel-making facilities is in response to weakened market demand allowing the company to better optimize production capabilities and balance internal inventories. The hot-end facilities will resume operations once market conditions improve. Hot strip mill and all finishing facilities including tin plating lines of Sparrows Point will continue operating to ensure uninterrupted service of our customers.