Steel Mills
NLMK Group Sales Flat, USA Division Down 8%
Written by Sandy Williams
October 16, 2018
NLMK USA sales slipped 8.0 percent in the third quarter to 590,000 metric tons as customers waited to see if steel prices would decline after reaching a high in July.
Sales were up 4 percent from third-quarter 2017, driven by a stronger U.S. economy and steel demand. Sales in the first nine months of the year totaled 1.78 million metric tons, an increase of 5 percent year-over-year.
Steel product prices fell 1 percent in the U.S. quarter-over-quarter as a balance between supply and demand was restored, said NLMK.
Steel output at NLMK Indiana totaled 172,000 metric tons in the third quarter compared to 181,000 tons in the second quarter, a 5 percent decrease but a 17 percent increase compared to Q3 2017. For the first nine months of 2018, the Indiana facility produced 517,000 tons of steel, an 8.0 percent increase from the same period in 2017.
NLMK USA includes NLMK Indiana, NLMK Pennsylvania and Sharon Coating.
NLMK Group Results
NLMK Group results were flat for the third quarter with steel output and sales growing only 1 percent to 4.4 million metric tons, each. Sales for the quarter were driven by an increase in long steel sales. Year-over-year sales results grew 4 percent, driven by semi-finished product and long steel sales. Group capacity utilization was near 99 percent for the quarter.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Ternium pushes forward with growth projects despite slump in earnings and Mexican market
Ternium S.A. Fourth quarter ended Dec.31 2024 2023 Change Net sales $3,876 $4,931 -21.4% Net income (loss) $333 $554 -39.9% Per diluted share $1.43 $2.11 -32.2% Full year ended Dec.31 Net sales $17,649 $17,610 0.2% Net income (loss) $174 $986 -82.4% Per diluted share $(0.27) $3.44 -108% (in millions of dollars except per share) While […]
Kestenbaum, Ancora state their case in proxy fight for U.S. Steel
Ancora Holdings is moving forward with its proxy fight to oust U.S. Steel’s leadership and install a new board of directors and Alan Kestenbaum as CEO.
BlueScope shelves midstream facility but still upbeat on US
BlueScope Steel is pulling back on its expansion plans in the US for now but remains optimistic about the North American market.
Japanese PM cites ‘unjust political interference’ in Nippon/USS deal: Report
Japan’s Prime Minister Shigeru Ishiba said on Monday that former President Joe Biden’s decision to block Nippon Steel’s buy of U.S. Steel was “unjust political interference,” according to a report in Reuters. This comes after another Reuters report on Friday saying that President Trump would not object to Nippon taking a minority stake in the […]
Trump says Nippon will ‘invest heavily’ in USS rather than buy it
Nippon Steel has agreed to “invest heavily in U.S. Steel as opposed to own it,” President Donald Trump said on Friday during a press conference with Japanese Prime Minister Shigeru Ishiba. U.S. Steel is “a very important company” and was once “the greatest company in the world”. Of potential foreign ownership of the Pittsburgh-based steelmaker, Trump said, “the concept, psychologically, not good."