NLMK says steel output falls by 8% to 3.9 mln tns in April–June

MOSCOW, Jul 15 (PRIME) -- The steel output of Novolipetsk Steel (NLMK) fell by 8% on the quarter to 3.855 million tonnes in April–June due to contraction in rolled steel output in Russia and of NLMK USA during the coronavirus pandemic, the company said in a statement on Wednesday.

Consolidated sales decreased by 3% on the quarter to 4.352 million tonnes in the period. The sales of semi-finished products rose by 10% to 1.928 million tonnes and of ready-made products fell 12% to 2.424 million tonnes.

In January–June, the company’s production of steel shrank by 1% on the year to 8.065 million tonnes. Consolidated sales remained almost flat in the period at 8.857 million tonnes, with the sales of semi-finished products rising 11% to 3.68 million tonnes and of ready-made products falling by 7% to 5.177 million tonnes.

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