Russian steel maker NLMK Group has increased sales in Q4 o 2021 by 8% QoQ to 4.5 million tonnes on the back of a 16% QoQ increase in production to 4.5 million tonnes. Steel production increased due to higher utilization at the Lipetsk site following repairs to the steelmaking oxygen supply infrastructure in August 2021. Sale of finished products increased by 12% QoQ to 3.1 million tonnes as compared to the same period in 2020. Sale of finished products increased by 18% due to an increase in sales of galvanized and hot-rolled steel. Slower group sales growth relative to production was driven by a 26% QoQ & 16% YoY decrease in semi-finished product shipments to third parties due to higher intragroup slab shipments and lower square billet shipments amid negative profitability in the context of the export duty. Sales in the home markets increased by 14% QoQ to 3.2 million tonnes, up 20% YoYSteel production in 2021 increased by 10% YoY to 17.4 million tonnes as equipment reached full capacity following the modernization of NLMK's blast-furnace and steelmaking operations, as well as higher output in Long Products Russia and NLMK USA. Sales amounted to 16.8 million tonnes down 4% YoY on the back of the resumption of intra-group deliveries of NLMK slabs to NLMK USA assets to 1.3 million tonnes and lower sales of salable pig iron due to higher steel production, which was partially offset by higher shipments of finished products third parties. Sales in the "home" markets increased by 6% YoY to 11.4 million tonnes due to the growth of deliveries in the US up 27% YoY and Russia up 9% YoY markets.Export sales declined by 22% YoY to 5.2 million tonnes due to a high base effect in 2020, when shipments were redistributed to external markets due to weak demand in Russia and the US during tight quarantine restrictions.
Russian steel maker NLMK Group has increased sales in Q4 o 2021 by 8% QoQ to 4.5 million tonnes on the back of a 16% QoQ increase in production to 4.5 million tonnes. Steel production increased due to higher utilization at the Lipetsk site following repairs to the steelmaking oxygen supply infrastructure in August 2021. Sale of finished products increased by 12% QoQ to 3.1 million tonnes as compared to the same period in 2020. Sale of finished products increased by 18% due to an increase in sales of galvanized and hot-rolled steel. Slower group sales growth relative to production was driven by a 26% QoQ & 16% YoY decrease in semi-finished product shipments to third parties due to higher intragroup slab shipments and lower square billet shipments amid negative profitability in the context of the export duty. Sales in the home markets increased by 14% QoQ to 3.2 million tonnes, up 20% YoYSteel production in 2021 increased by 10% YoY to 17.4 million tonnes as equipment reached full capacity following the modernization of NLMK's blast-furnace and steelmaking operations, as well as higher output in Long Products Russia and NLMK USA. Sales amounted to 16.8 million tonnes down 4% YoY on the back of the resumption of intra-group deliveries of NLMK slabs to NLMK USA assets to 1.3 million tonnes and lower sales of salable pig iron due to higher steel production, which was partially offset by higher shipments of finished products third parties. Sales in the "home" markets increased by 6% YoY to 11.4 million tonnes due to the growth of deliveries in the US up 27% YoY and Russia up 9% YoY markets.Export sales declined by 22% YoY to 5.2 million tonnes due to a high base effect in 2020, when shipments were redistributed to external markets due to weak demand in Russia and the US during tight quarantine restrictions.
