Steel Mills
NLMK Sales Increase in First Quarter
Written by Sandy Williams
May 22, 2014
NLMK announced improved sales for the Group and NLMK USA in its Q1 2014 US GAAP results. The Group’s steelmaking capacity utilization ran at 92 percent through first quarter with steel sales up 8 percent quarter over quarter to 3.866 million tons. Crude steel production dropped 4 percent quarter over quarter due to seasonal factors and industrial trials at NLMK Kaluga.
Revenue for the Group increased by 5 percent to $2.638 billion. Net income for the quarter was $174 million. Sales to North America increased by 12 percent and to Europe by 11 percent.
NLMK USA sales increased 2 percent to $381 million. Tons sold by the USA operations increased to 458,000 metric tonnes from 451,000 metric tonnes in Q4.
NLMK Indiana ran at an 88 percent capacity in the first quarter, up from 85 percent in Q4 2013.
Increased construction demand elevated sales to Russia by 6 percent; EU sales totaled 0.75 million metric tonnes.
“At the beginning of 2014, demand in key markets remained weak on the back of the seasonal slowdown in consumer activity,” said Grigory Fedorishin, NLMK Group CEO. “By the end of the first quarter, market conditions improved.” NLMK expects steel production to remain stable in second quarter around 3.9 million tonnes.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Steel Summit: Schneider sees SDI ‘on the edge of a very good run’
Steel Dynamics Inc. (SDI) President and Chief Operating Officer, Barry Schneider, remains bullish about the Fort Wayne, Ind.-based steelmaker’s position in the current market.
Steel Summit: Burritt says USS and Nippon are fast-tracking modern steelmaking
U.S. Steel President and CEO David Burritt told audiences at SMU's Steel Summit 2025 that the iconic American steelmaker’s partnership with Nippon Steel is fast-tracking smarter steel production.
Nucor moves to stop HRC price slide with $10/ton hike
Nucor is attempting to halt the decline in hot-rolled coil prices with the announcement of a $10-per-short-ton increase in its weekly consumer spot price on Monday.
Explosion rocks ArcelorMittal’s DR plant in Mexico
ArcelorMittal reported a "strong" explosion at the direct reduction part of its massive Lazaro Cardenas mill in Mexico.
SDI to acquire remaining stake in New Process Steel
Steel Dynamics Inc. (SDI) announced that it has agreed to acquire the remaining 55% equity interest in New Process Steel.