NLMK: Q1 CY20 Steel Output up 1%, Sales Down 2% yoy
Apr 17, 2020 11:00
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NLMK Group today announced its Q1 operational results for the year CY’20. Total steel output of the company in the first quarter was recorded 4.2 MnT, up by 11% Q-o-Q and 1% Y-o-Y, following the completion of major repairs at NLMK Lipetsk BF and BOF operations in Q4 CY’19.
The group’s total steel sales fell by 2% to 4.5 MnT on Y-o-Y basis. However, the same grew by 8% Q-o-Q,driven by the increase in slab sales volumes following the growth of steeloutput, and the increase in flat steel sales, due to low stock levels in Europe and an uptick