Steel Mills
NLMK USA Results Down in Q3
Written by Sandy Williams
October 24, 2019
NLMK USA noted weaker demand in the pipe manufacturing and construction segments in its third-quarter earnings report. Prices dropped 13 percent from the second quarter and shipments declined 6 percent to 550,000 metric tons, resulting in a loss for the company.
Revenue for the segment fell 18 percent from the second quarter to $391 million. EBITDA decreased to a loss of $33 million due to a decline in prices of finished rolled products and the accumulation of high-value slab inventory.
NLMK expects seasonally slow demand in the U.S. to restrain significant steel price moves in the coming quarter, but lower scrap prices could improve margins.
Sandy Williams
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