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
ArcelorMittal plans wire-drawing closure in Hamilton, shifts production to Montreal
ArcelorMittal’s (AM) Hamilton location to be shuttered, wire production shifting to Montreal.
USS, Nippon Steel quiet as litigation deadline approaches
There has been little word from U.S. Steel, Nippon Steel, or the White House since President Trump endorsed the companies’ “partnership” on social media and celebrated it at the May 30 rally outside Pittsburgh.
AISI: April mill shipments fall, sheet down YTD
US steel mills saw a decline in shipments from March to April.
Hybar rolls first rebar, ramping up Arkansas mill commissioning
The startup steelmaker produced its first rebar at its greenfield steel mill in Osceola, Ark., marking a key milestone by completing construction in 22 months.
Goncalves: Despite higher tariffs, two Cliffs mills to remain idled
Cleveland-Cliffs Chairman, President, and CEO Lourenco Goncalves said he would keep one mill idled and still plans to idle another despite increased protections from Section 232 tariffs doubling to 50%.