Steel Mills
NLMK USA Sales Up 18 Percent in Q2
Written by Sandy Williams
August 9, 2014
NLMK USA second quarter sales increased 18 percent quarter over quarter to 540,000 tonnes (595,238 net tons). Revenue increased 13 percent q/q to $499 million. NLMK Indiana ran at 81 percent capacity in the second quarter. Profitability declined due to narrower spreads between prices for slabs and rolled steel products.
NLMK Group sales totaled 3.83 million tons in Q2 with 6 percent increase in revenue to $2.8 billion. Net income was $158 million, down 9 percent q/q. EBITDA for the first half of 2014 jumped 27 percent q/q to $594 million.
Group steel output decreased by 3 percent q/q to 3.77 million tonnes (4.08 million net tons). NLMK Group steelmaking capacity was running at 94 percent. Rolled products accounted for 72 percent of total sale. Rolled product output for the Group increased by 26.8 percent on a quarterly basis.
NLMK expects steel production in Q4 to reach 4 million tonnes (4.4 million net tons) with Q3 financial results matching or slightly higher than second quarter.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Domestic mill shipments slip in July: AISI
US steel shipments decreased month over month in July, but were up from last year, according to the latest figures from the American Iron and Steel Institute (AISI).
Nippon and USS drop litigation vs. USW and Cliffs
Another chapter of the Great U.S. Steel Buyout of the 2020s melodrama has closed, with all involved parties terminating the litigation disputes between them.
Steel Summit: Analysts say demand likely to struggle until 2027
Steel industry analysts at this year's SMU Steel Summit said they see lackluster demand through this year and next.
USS Clairton begins full production of batteries 19 and 20, 13 and 14 hot idled
U.S. Steel has activated batteries 19 and 20 at its Clairton Coke Works facility after pausing each “out of an abundance precaution” following an explosion at the site on Aug. 11.
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.