Lower Demand in Export Market Weighs Down NLMK Billet Sales
NLMK, one of the leading steel producers of Russia has released 2019 Q2 operational performance results on 15 Jul’19. The highlights are as follows
1. The company’s steel output decline by 5% against last quarter. This was primarily due to overhauls at NLMK Lipetsk blast furnace (BF) and basic oxygen furnace (BOF) operations. This has resulted in reduction of 9% Y-o-Y steel output. Another reason for decrease in output at NLMK Russia was due to low demand for billets in export market.
2. Sales declined by 7% against last quarter and 3% on Y-o-Y basis amid reduced output and sales of commercial slabs and billets. The company’s sales for this quarter were recorded at 4,300 MT.
3. The domestic market has registered a growth of 11% against last quarter and 12% on Y-o-Y basis. The demand for long and flat products has driven the domestic growth of the company for this quarter.
source: SteelMint
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