Russian steel giant NLMK announced that its steel production amounted to 4.4 million tonnes down 2% QoQ & 4% YoY in April-June 2022 quarter and sales decreased by 12% QoQ to 4.0 million tonnes and by 7% YoY with increased supplies of slabs within NLMK Group and lower demand in key markets. The volume of sales of finished products amounted to 2.2 million tonnes down 13% QoQ & 19% YoY. Sales in the domestic markets decreased by 3% QoQ to 2.6 million tonnes & by 7% YoY as a result of slowing demand in the Russian market while sales in export markets amounted to 1.2 million tonnes down 33% QoQ & 17% YoY Steel production amounted to 8.9 million tonne in January-June 2022 down 1% YoY while sales increased by 4% YoY to 8.6 million tonnes as a result of higher demand for semi-finished products in export markets in Q1 of 2022. Sales in the domestic markets decreased by 5% YoY to 5.2 million tonnes while exports increased by 13% YoY to 2.9 million tonnes. NLMK Russia Flat Products – April June 2022Steel output stood at 3.5 million tonnes down 1% QoQ & 2% YoYSales in decreased to 3.2 million tonnes down 9% QoQ & 11% YoY. The decline in slab demand in the EU and Middle East markets was in full offset by intragroup sales to the Group's foreign assets. The Segment's sales decreased due to deceleration of demand for hot- and cold-rolled steel in the key steel consuming industries in the Russian market. NLMK Russia Long Products– April June 2022Steel output decreased to 0.7 million tonne, down 12% QoQ & 8% YoY as planned repairs were underway at NLMK Ural. Steel output at NLMK Kaluga was reduced amid declining demand in the Russian market and restrictions on export to the EU. Sales stood at 0.72 million tonne down 1% QoQ & 12% YoY as demand for long products in Russia decreased. This was offset by pivoting sales of square billets from Europe to Turkey. NLMK USA– April June 2022Sales in the Segment decreased to 0.4 million tonnes down 3% QoQ & 25% YoY amid the slowdown of consumer activity. A further decline in prices is expected as end-demand will be slowing down and the level of stocks accumulated since the beginning of 2022 is high. NLMK DANSTEEL– April June 2022Sales decreased to 0.16 million tonnes down 7% QoQ & 4% YoY due to a demand slowdown amid expectations of further price reductions for thick plate in Europe.6M 2022 performance NLMK Belgium Holdings JV – – April June 2022Steel product output decreased to 0.51 million tonnes, down 4% QoQ, as hot-rolled steel production was reduced at NLMK La Louviere in response to the slowdown in demand at quarter-end. Production output increased 2.3 times vs the same period last year due to the completion of the first upgrading phase at NLMK La Louviere Hot Strip Mill. Sales grew by 32% QoQ to 0.54 million tonne up62% YoY due to the low base effect of the previous quarter when shipments were down due to high consumer stock levels and logistic constraints amid the transport shortage.
Russian steel giant NLMK announced that its steel production amounted to 4.4 million tonnes down 2% QoQ & 4% YoY in April-June 2022 quarter and sales decreased by 12% QoQ to 4.0 million tonnes and by 7% YoY with increased supplies of slabs within NLMK Group and lower demand in key markets. The volume of sales of finished products amounted to 2.2 million tonnes down 13% QoQ & 19% YoY. Sales in the domestic markets decreased by 3% QoQ to 2.6 million tonnes & by 7% YoY as a result of slowing demand in the Russian market while sales in export markets amounted to 1.2 million tonnes down 33% QoQ & 17% YoY Steel production amounted to 8.9 million tonne in January-June 2022 down 1% YoY while sales increased by 4% YoY to 8.6 million tonnes as a result of higher demand for semi-finished products in export markets in Q1 of 2022. Sales in the domestic markets decreased by 5% YoY to 5.2 million tonnes while exports increased by 13% YoY to 2.9 million tonnes. NLMK Russia Flat Products – April June 2022Steel output stood at 3.5 million tonnes down 1% QoQ & 2% YoYSales in decreased to 3.2 million tonnes down 9% QoQ & 11% YoY. The decline in slab demand in the EU and Middle East markets was in full offset by intragroup sales to the Group's foreign assets. The Segment's sales decreased due to deceleration of demand for hot- and cold-rolled steel in the key steel consuming industries in the Russian market. NLMK Russia Long Products– April June 2022Steel output decreased to 0.7 million tonne, down 12% QoQ & 8% YoY as planned repairs were underway at NLMK Ural. Steel output at NLMK Kaluga was reduced amid declining demand in the Russian market and restrictions on export to the EU. Sales stood at 0.72 million tonne down 1% QoQ & 12% YoY as demand for long products in Russia decreased. This was offset by pivoting sales of square billets from Europe to Turkey. NLMK USA– April June 2022Sales in the Segment decreased to 0.4 million tonnes down 3% QoQ & 25% YoY amid the slowdown of consumer activity. A further decline in prices is expected as end-demand will be slowing down and the level of stocks accumulated since the beginning of 2022 is high. NLMK DANSTEEL– April June 2022Sales decreased to 0.16 million tonnes down 7% QoQ & 4% YoY due to a demand slowdown amid expectations of further price reductions for thick plate in Europe.6M 2022 performance NLMK Belgium Holdings JV – – April June 2022Steel product output decreased to 0.51 million tonnes, down 4% QoQ, as hot-rolled steel production was reduced at NLMK La Louviere in response to the slowdown in demand at quarter-end. Production output increased 2.3 times vs the same period last year due to the completion of the first upgrading phase at NLMK La Louviere Hot Strip Mill. Sales grew by 32% QoQ to 0.54 million tonne up62% YoY due to the low base effect of the previous quarter when shipments were down due to high consumer stock levels and logistic constraints amid the transport shortage.
