Steel Mills
NLMK USA Sales Up 21% in 2017
Written by Sandy Williams
February 22, 2018
NLMK USA’s fourth-quarter sales and shipments dropped 3 percent from the third quarter due to expected seasonality. Sales totaled $410 million on shipments of 550,000 metric tons. Prices in the fourth quarter were flat due to uncertainty surrounding the pending Section 232 investigation.
For full-year 2017, NLMK USA sales increased 21 percent from 2016 to an all-time high of 2.24 million metric tons. Revenue increased 44 percent to $1.6 billion. The company cited a better product mix following the start of an additional galvanizing line last year and a 19 percent jump in average sales prices.
Sales for NLMK worldwide for the year increased 3 percent from 2016 to 16.5 million metric tons. Sales jumped 32 percent year-over-year to $10 billion and net income increased 55 percent to $1.45 billion.
Said management in its earnings comments, “Increase of demand in home markets (Russia, the U.S., and the EU) continued against the backdrop of economic growth. The drop in demand in Russia in 2014-2016 gave way to an upward trend (+5 percent), driven by the construction, machine-building and pipe and tube sectors.”
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Gerdau reshapes North American footprint as tariffs squeeze long steel imports
Gerdau is repositioning its North American business to capitalize on a sharp shift in steel trade flows driven by elevated tariffs across the US, Canada, and Mexico.
CRU: Interest in AHMSA is growing
Representatives of at least six companies interested in acquiring AHMSA have reportedly begun to carry out physical inspections of the insolvent company’s assets.
USW urges Algoma to diversify product line as $500M lifeline meets wider Q3 losses
The United Steelworkers (USW) is pushing for transparency after Algoma Steel announced earlier this week that it has received CA$500 million in financing from the Canadian government.
Oregon Steel Mills lifts plate prices by $60/ton
Oregon Steel Mills has joined other producers in announcing a price increase of at least $60 per short ton on steel plate.
Algoma speeds up EAF transition, shifts focus to supplying mostly plate to Canadian market
Upended by the Trump regime's tornado of tariffs, Algoma Steel is pivoting on its cross-border business model, shifting its focus to supplying the Canadian market.