Russian steelmaker Novolipetsk Steel (NLMK) has announced its production and sales data for the second quarter of the current year. According to the company statement, NLMK's crude steel output in the second quarter increased to 4.05 million mt, up five percent compared to the previous quarter, following the completion of maintenance works at the Lipetsk site and NLMK USA.
In the second quarter, NLMK Group's total steel product sales increased by one percent quarter on quarter to 4 million mt due to higher finished product shipments rising by ten percent quarter on quarter while semi-finished product sales declined by 12 percent quarter on quarter.
Domestic sales totaled 1.53 million mt (up nine percent quarter on quarter) or accounting for 38 percent of total sales. This growth was driven by the seasonal recovery in domestic demand. Key external destinations were Europe, North and South America, the Middle East including Turkey.
NLMK also stated that its second quarter operation results are expected to grow driven, among other factors, by seasonally improved buying activity in the Russian market.