Russian steelmaker NLMK has announced a quarter-on-quarter sales increase for Q3 2016 of 7% to 4.2Mt. Crude steel output was down 4% to 4Mt.
Over the first nine months of 2016 group crude steel output and sales increased by 2% year-on-year to 12.3Mt and the capacity utilisation rate was up one percentage point to 95%.
Quarter on quarter, sales of finished steel increased by 8% to 2.8Mt (up 1% year-on-year).
In local markets, NLMK increased sales by 5% to 2.74Mt, down 3% year-on-year. The company’s share of local sales was 66%. In Russian NLMK increased sales by 28% to 1.72Mt, down 3% year-on-year and driven by a seasonal upturn in demand.
Flat steel sales were up 19% quarter-on-quarter and sales of NLMK’s foreign assets in domestic European and US markets dropped 20% quarter-on-quarter and by 3% year-on-year to 1.02Mt, due mainly to a seasonal slowdown in demand in Europe; and the levelling off of customer stocks in the USA.
In external markets, NLMK claims that sales grew to 1.44Mt, up 12% quarter-on-quarter and up 8% year-on-year. Key export markets were Europe, North America and the Middle East.