Steel Mills

NLMK USA Sales Increase in Q2

Written by Sandy Williams

NLMK USA second quarter crude steel production rose to 130,000 tonnes (143,298 tons), a 39 percent increase from the previous quarter. Finished steel output totaled 490,000 tonnes (540,123 tons), up 20 percent q/q.

USA sales in Q2 grew 12 percent q/q to 480,000 tonnes (529,100 tons). Hot rolled steel production was up 20 percent to 267,000 tonnes and galvanized steel up 17 percent to 86,000 tonnes (94,797 tons). Cold rolled sales fell 5 percent q/q to 125,000 tonnes (137,786 tons).

First half production of crude steel declined 31 percent year over year to 230,000 tonnes (253,527 tons) due to repair works at NLMK USA at the beginning of the year. Sales for H1 of 907,000 tonnes (1.07 million tons) were down 9 percent y/y due to growing competition in the US market. Demand for galvanized steel for HVA products drove sales up 5 percent y/y to 160,000 tonnes (176,366 tons)

In the earnings outlook remarks, NLMK said it expects ”flat operating results on the back of stable demand from automotive and construction sectors.”

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