NLMK USA sells less steel, output up in 2Q

Russian-based steelmaker NLMK's US steel sales volumes fell in the second quarter, while production edged higher.

NLMK USA's hot-rolled coil sales for the quarter fell by 15pc to 313,000 metric tonnes (t) (345,000st) compared with 369,000t in the same months a year earlier.

Cold-rolled steel sales fell by 15pc year-over-year to 110,000t from 129,000t. Galvanized steel sales rose by 14pc to 158,000t compared with 139,000t a year earlier.

Overall sales volumes fell by 8.5pc to 584,000t in the second quarter compared with 638,000t in the same period of the prior year.

Second-quarter steel production at NLMK's EAF-based mill in Portage, Indiana, rose by 2.2pc to 185,000t from 181,000t in the same period of the prior year.

The company attributed a 17pc reduction in slab sales to reduced deliveries from its offshore operations to the US after the introduction of the 25pc Section 232 steel tariff in March 2018.

Slab sales to NLMK USA and NLMK Dansteel, which is located in Denmark, fell by 51pc to 224,000t in the second quarter.