NLMK increased production in 2018

Russian steelmaker NLMK said Friday that its fourth-quarter steel production rose 1% year-on-year to 4.4 million tonnes.

In the fourth quarter, consolidated steel sales were up 6 percent year-on-year to 4.6 million tonnes, boosted by stronger overseas sales of steel slabs and pig iron.

Steel sales over the past year renewed their historic highs again and reached 17.3 million tonnes. However, it should be noted that in 2018, steel capacity utilization was 99%. Therefore, NLMK is not expected to increase steel production in 2019.

Iron ore concentrate production up to 2020 retains the potential for a further increase in production, as NLMK plans to invest 15 billion rubles. Stoilensky GOK, which will increase the production of iron ore from 17.5 million to 20 million tons per year.