Steel Mills
NLMK Sales Increase in First Quarter
Written by Sandy Williams
May 22, 2014
NLMK announced improved sales for the Group and NLMK USA in its Q1 2014 US GAAP results. The Group’s steelmaking capacity utilization ran at 92 percent through first quarter with steel sales up 8 percent quarter over quarter to 3.866 million tons. Crude steel production dropped 4 percent quarter over quarter due to seasonal factors and industrial trials at NLMK Kaluga.
Revenue for the Group increased by 5 percent to $2.638 billion. Net income for the quarter was $174 million. Sales to North America increased by 12 percent and to Europe by 11 percent.
NLMK USA sales increased 2 percent to $381 million. Tons sold by the USA operations increased to 458,000 metric tonnes from 451,000 metric tonnes in Q4.
NLMK Indiana ran at an 88 percent capacity in the first quarter, up from 85 percent in Q4 2013.
Increased construction demand elevated sales to Russia by 6 percent; EU sales totaled 0.75 million metric tonnes.
“At the beginning of 2014, demand in key markets remained weak on the back of the seasonal slowdown in consumer activity,” said Grigory Fedorishin, NLMK Group CEO. “By the end of the first quarter, market conditions improved.” NLMK expects steel production to remain stable in second quarter around 3.9 million tonnes.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
AISI: Raw steel production rises to 4-week high
Domestic raw steel mill production increased to a four-week high last week, according to the American Iron and Steel Institute (AISI).
Cliffs to install new stove at Stelco BF in Nanticoke: CBC
Cleveland-Cliffs' Lourenco Goncalves said the company will install a new stove at Stelco’s blast furnace in Nanticoke, Ontario.
Global steel production bounces back in October
Output from steel mills around the globe totaled 152.1 million metric tons (mt) in October, the highest monthly rate recorded since July.
Nucor keeps HR base price steady to end November
Nucor is holding its hot-rolled (HR) coil base price flat at $750/st for the third week in a row.
Primetals to replace two EAFs at US mill
Primetals Technologies will be replacing two electric-arc furnaces at a steel mill in the US with one more energy-efficient furnace.