Steel Mills
NLMK USA Shipments Increase in Q1
Written by Sandy Williams
April 25, 2019
NLMK USA shipments increased 19 percent to 600,000 metric tons from the fourth quarter of 2018 to the first quarter of 2019. Higher shipments resulted in $530 million in revenue—a 4.0 percent increase despite steel prices slipping 12 percent quarter-over-quarter.
NLMK USA hot rolled coil shipments totaled 330,000 metric tons and high value added products 270,000 MT. The division saw higher demand for rolled products from service centers, pipe producers, machinery and construction industries.
Slab shipments from NLMK’s Russian flat products division to NLMK USA fell 24 percent to 141,000 MT from the fourth quarter of 2018. The U.S. government has denied NLMK USA exemption from Section 232 tariffs for imports of steel slab from its parent company.
NLMK USA includes NLMK Indiana, NLMK Pennsylvania and Sharon Coating.
NLMK Group Results
NLMK Group reported a 5.0 percent sequential decline in revenue to $2.87 billion due to lower steel prices. Sales were almost flat compared to the fourth quarter.
Group shipments totaled 3.4 million MT. More than half (56 percent) of NLMK’s steel products were sold in the Group’s home markets of Russia, the EU and the United States. Steel output fell 4 percent to 4.18 million MTs in the first quarter due to overhauls of blast furnace operations and seasonal slowing. Steel capacity utilization, excluding production capacities under maintenance, was at 96 percent.
“In Q1 2019 there was a multidirectional trend in steel consumption in our key markets: in Russia and the U.S. demand grew quarter-over-quarter, while in the EU there was a slowdown in activity among steel product consumers,” commented NLMK Group CFO Shamil Kurmashov.
NLMK Group expects Group steel output to decline 6-8 percent in the second quarter due to blast furnace maintenance at Lipetsk.
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."