Steel Mills
NLMK USA Sales Up 21% in 2017
Written by Sandy Williams
February 22, 2018
NLMK USA’s fourth-quarter sales and shipments dropped 3 percent from the third quarter due to expected seasonality. Sales totaled $410 million on shipments of 550,000 metric tons. Prices in the fourth quarter were flat due to uncertainty surrounding the pending Section 232 investigation.
For full-year 2017, NLMK USA sales increased 21 percent from 2016 to an all-time high of 2.24 million metric tons. Revenue increased 44 percent to $1.6 billion. The company cited a better product mix following the start of an additional galvanizing line last year and a 19 percent jump in average sales prices.
Sales for NLMK worldwide for the year increased 3 percent from 2016 to 16.5 million metric tons. Sales jumped 32 percent year-over-year to $10 billion and net income increased 55 percent to $1.45 billion.
Said management in its earnings comments, “Increase of demand in home markets (Russia, the U.S., and the EU) continued against the backdrop of economic growth. The drop in demand in Russia in 2014-2016 gave way to an upward trend (+5 percent), driven by the construction, machine-building and pipe and tube sectors.”
Sandy Williams
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