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

Stelco Considering Bid for U.S. Steel: Bloomberg
Canadian steelmaker Stelco Holdings Inc. is now in the mix to purchase U.S. Steel, according to an article in Bloomberg on Thursday, which cited people familiar with the matter.

USS Expects Lower Q3 Earnings, Says UAW Strike Partly To Blame
U.S. Steel expects earnings to drop in the third quarter vs. the prior quarter and the same period a year earlier as the company adjusts production because of the United Auto Workers (UAW) union strike.

SDI to Provide Steel for Mercedes Plant in Alabama
Steel Dynamics Inc. (SDI) and Mercedes-Benz have signed an agreement for the automaker to source 50,000 metric tons of C02-reduced steel for its plant in Tuscaloosa, Ala.

Algoma’s CEO Highlights the Switch to Greener Steelmaking
As the world works to decarbonize and limit greenhouse-gas emissions to reach the goals outlined in the Paris Agreement, many steel companies have joined others in setting their own targets to reach net zero emissions by 2050.
U.S. Steel Idling Granite City ‘B’ Furnace in Response to UAW strike
U.S. Steel said on Monday it plans to temporarily idle blast furnace ‘B’ at its Granite City Works near St. Louis. The Pittsburgh-based steelmaker said it made the move in response to the United Auto Workers (UAW) union strike against “Big Three” automakers Ford, General Motors, and Stellantis. “Following the announcement of UAW strike actions, […]