Steel Mills
NLMK USA Output Drops 31% in 2015
Written by Sandy Williams
January 21, 2016
NLMK USA crude steel production for Q4 2015 totaled 0.08 million tonnes (metric tons), a drop of 46 percent from the previous quarter and 50 percent from the prior year. Finished steel output fell to 0.35 million tons in the quarter (-30% qoq and -27% yoy). NLMK attributed lower production to challenging market conditions and maintenance activities during the quarter.
NLMK USA sales fell 28 percent quarter over quarter to .36 million tonnes. Destocking of inventory and weak prices for rolled steel contributed to falling sales.
For the full year 2015 output was down 31 percent year over year to 0.46 million tonnes due to major repairs at NLMK Indiana at the beginning of 2015 and reduced output in the final quarter.
Yearly sales declined 13 percent to 1.76 million tonnes due to the influx of imported rolled products into the and flat demand.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Nippon could up investment in USS facilities to $7B: Report
It's the latest twist as the proxy battle heats up for Pittsburgh-based U.S. Steel.
Hybar expansion still on the table as Arkansas mill startup nears
As Hybar nears the completion of its $700-million rebar mill in Arkansas, the company said it is still “actively considering” building other steel facilities in the southern US.
Global steel production edges lower in February
February’s global raw steel output is tied with last December's for the fourth-lowest monthly production rate recorded over the past two years.
Fate of U.S. Steel hangs in the balance
The future of U.S. Steel remains unclear, but the proxy fight for control of the company is heating up. Shareholders will cast their votes on the company's future at the annual meeting in May.
Cliffs to idle Dearborn blast furnace, restart Cleveland furnace by July
Cleveland-Cliffs has decided to idle the steelmaking operations at its Dearborn Works in Michigan due to weak automotive demand.