Product
August 19, 2013
NLMK USA Revenues Drop in 2nd Quarter
Written by Sandy Williams
NLMK reported USA revenue of $314 million in the second quarter down from $362 million in Q1. The company noted lower demand from the US construction sector and general deterioration of market conditions in Europe and the USA along with industry oversupply.
North American steel sales dropped to 432,000 tonnes (476,190 tons) from 473,000 tonnes in Q1 and 610,000 tonnes in Q2 2012. US sales included 268,000 tonnes of hot rolled coil (295,419 net tons), 110,000 tonnes of cold rolled coil (121,254 net tons) and 51,000 tonnes of “prepainted” steel (believed to mean coated or HDG steel = 56,217 net tons). Steel making capacity out of NLMK Indiana was at 87 percent compared to 88 percent in the first quarter of 2013.
