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NLMK Russia Flat Products Production In Q2

Steel News - Published on Wed, 17 Jul 2019

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Steel output decreased by 10% QoQ and YoY to 2.95 million tonne due to overhauls at NLMK Lipetsk's BF and BOF operations. Sales of the Segment dropped by 10% QoQ (-11% YoY), following the drop in steel output.

Sales mix: the share of finished steel increased to 45%. Finished steel sales were down 8% QoQ to 1.39 million tonne due to reduced export deliveries as sales were redirected to the Russian market to satisfy the seasonally high demand. HVA product sales totalled 0.8 million tonne. The 2% QoQ and 1% YoY decrease was driven by lower exports of cold-rolled and galvanized steel.

Sales of semi-finished steel went down by 12% QOQ (-15% YoY) to 1.67 million tonne due to lower slab deliveries to the market following the shift to finished steel coupled with the decrease in total steel output. Semis deliveries to the Group companies and NBH grew to 0.93 million tonne (+27% QoQ) with increased slab demand from the Group's European companies. Slab sales were down by 17% YoY due to reduced deliveries to NLMK USA following the introduction of safeguard measures.

Sales markets: sales In Russia grew by 13% QoQ to 1.16 million tonne against the backdrop of the seasonal growth in demand for finished steel (Appendix 31 Export sales declined by 20% qoq and yoy to 1.89 m t due to lower semis deliveries. The share of the Segment's export sales reduced to 62% (-8 p.p. qoq; -7 p.p. yoy).

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Posted By : Ratan Singh on Wed, 17 Jul 2019
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