NLMK sees Russian steel product output falling by 15% in 2022

MOSCOW, Jun 14 (PRIME) -- Russian steelmaker Novolipetsk Steel (NLMK) expects its steel product output in the country to fall by 15% in 2022 and 26% in October–December, the company said in a statement on Tuesday.

"Taking into account the analysis of indicators of the first quarter of 2022 and dynamics of the ferrous metal market at the start of the second quarter of 2022, we expect that Russian ferrous metals producers’ output will amount to over 11 million tonnes (minus 15%) as compared with 2021, the decline will peak in the second half of 2022 at over 9 million tonnes, or 26% as compared with the second half of 2021," the statement read.

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