NLMK's crude steel output up by 1% YOY in 2020
2021-01-26 15:42:34 [Print]
Russian steel manufacturer NLMK announced the production and sales data for the fourth quarter of 2020 and the full year. The company's crude steel output in Q4 totaled 3.9 million tons, an increase of 1% over the same period last year. In 2020, the company's crude steel output totaled 15.8 million tons, a year-on-year increase of 1%.
In Q4, NLMK's total sales of steel products fell by 5% compared with the previous quarter to 4.2 million tons. This was due to the decline in slab sales and year-end inventory growth and equipment upgrades that led to a decline in long product sales.
In terms of foreign trade, in the fourth quarter of 2020, NLMK's steel export sales totaled 1.6 million tons, a year-on-year increase of 21% but a month-on-month decrease of 14%, due to the decline in slab sales to third parties.
In 2020, driven by the increase in pig iron and billet exports, NLMK's export sales increased by 17% YOY to 6.8 million tons.
In Q4, NLMK's total sales of steel products fell by 5% compared with the previous quarter to 4.2 million tons. This was due to the decline in slab sales and year-end inventory growth and equipment upgrades that led to a decline in long product sales.
In terms of foreign trade, in the fourth quarter of 2020, NLMK's steel export sales totaled 1.6 million tons, a year-on-year increase of 21% but a month-on-month decrease of 14%, due to the decline in slab sales to third parties.
In 2020, driven by the increase in pig iron and billet exports, NLMK's export sales increased by 17% YOY to 6.8 million tons.
