Russian steelmaker NLMK Group has stated that it plans to reduce its medium-term benchmark for investments over the next three years, for the 2015-17 period, to $550 million from the previous $800-900 million.
In particular, NLMK will reduced investment in capacity expansion for the production of iron ore concentrate to $120 million from the previously planned $570 million.
In 2014, the company's capital expenditure decreased by 26 percent year on year to $560 million.