Steel Mills
NLMK USA’s Sales Decline Considerably
Written by Laura Miller
October 18, 2022
NLMK USA saw a considerable decline in third-quarter and year-to-date sales due to high inventories and a slowdown in customer activity because of falling steel prices.
The US flat-rolled steel company — made up of NLMK Indiana, NLMK Pennsylvania, and the Sharon Coating galvanizing facility in Pennsylvania — posted preliminary sales of 300,000 metric tons in Q3. This was a 9% drop from second-quarter sales and a 42% decline from Q3 2021.
Q3 production in the US was 1% lower sequentially, said Russian parent company NLMK Group in its latest trading update.
The company reported weak overall demand from automotive companies because of semiconductor supply disruptions, high stock levels, and cheaper raw materials prices.
In the first nine months of the year, lower demand from 2021’s high base resulted in a 27% year-on-year (YoY) decline in sales for NLMK USA to 1.1 million metric tons.
A recovery of demand in Russia and Turkey led to an 8% sequential rise and a 5% YoY rise in NLMK Group’s company-wide Q3 sales to 4.3 million metric tons. In the first three quarters of the year, total sales of 12.9 million metric tons climbed 4% higher YoY.
By Laura Miller, Laura@SteelMarketUpdate.com
Laura Miller
Read more from Laura MillerLatest in Steel Mills
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.
White House confirms use of ‘golden share’ to intervene at Granite City: Report
The White House confirmed it stepped in to block the halting of steel processing at U.S. Steel’s Granite City Works in Illinois, according to media reports.