Russian steel maker NLMK announced that its steel production totaled 3.9 million tonnes in July-September 2022 quarter, down 11% QoQ & up 1% YoY amid a reduction in production at the Lipetsk site due to lower steel demand in Europe and sanctions restrictions. Sales increased by 8% QoQ to 4.3 million tonnes up 5% YoY due to the normalization of inventories accumulated during the 2nd quarter, as well as recovery in demand for flat steel in the markets of Russia and Turkey. Sales mix: the share of semi-finished products was 34% down 11% QoQ & flat YoY amid declining demand for finished products and, consequently, for semi-finished steel in Europe. Sales of finished products increased by 29% QoQ to 2.9 million tonnes up 4% YoY Steel production amounted to 12.8 million tonnes in January-September 2022, flat YoY while sales increased by 4% YoY to 12.9 million tonnes, incl. through the sale of stocks accumulated at the end of 2021. Sales mix: the share of semi-finished goods in sales reached 41% up 7% YoY. Sales of finished products totaled 7.6 million tonnes down 7% YoY amid declining demand in key markets.
Russian steel maker NLMK announced that its steel production totaled 3.9 million tonnes in July-September 2022 quarter, down 11% QoQ & up 1% YoY amid a reduction in production at the Lipetsk site due to lower steel demand in Europe and sanctions restrictions. Sales increased by 8% QoQ to 4.3 million tonnes up 5% YoY due to the normalization of inventories accumulated during the 2nd quarter, as well as recovery in demand for flat steel in the markets of Russia and Turkey. Sales mix: the share of semi-finished products was 34% down 11% QoQ & flat YoY amid declining demand for finished products and, consequently, for semi-finished steel in Europe. Sales of finished products increased by 29% QoQ to 2.9 million tonnes up 4% YoY Steel production amounted to 12.8 million tonnes in January-September 2022, flat YoY while sales increased by 4% YoY to 12.9 million tonnes, incl. through the sale of stocks accumulated at the end of 2021. Sales mix: the share of semi-finished goods in sales reached 41% up 7% YoY. Sales of finished products totaled 7.6 million tonnes down 7% YoY amid declining demand in key markets.
