Russian steelmaker Novolipetsk Steel (NLMK) has announced its production and sales data for the first quarter of the current year. According to the company statement, NLMK's crude steel output in the first quarter decreased to 3.87 million mt, down six percent compared to the previous quarter. This reduction in steel production was related mainly to scheduled maintenance at the BF and BOF shops at the Lipetsk plant and at the EAF at NLMK USA amid the seasonally slow market.
In the given quarter, NLMK Group's total steel product sales increased by three percent quarter on quarter to 3.957 million mt supported by stable demand in the international markets.
International sales totaled 2.55 million mt (up 13 percent quarter on quarter) or accounting for 64 percent of total sales. This growth was driven by higher demand for semi-finished steel in the international markets. Key external destinations were Europe, North and South America, the Middle East and Southeast Asia.
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.