Steel production at Russian NLMK declined in 1H and 2Q

In the first six months of this year, steel production at the Novolipetsk Iron and Steel Works (NLMK) amounted to about 8.9 million tons, down 1% year on year. Steel sales amounted to 8.57 million tons, an increase of 4% compared to the same period last year. The increase in sales is due to the fact that the accumulated stocks of slabs at the end of 2021 were sold in the first half of this year.

In the second quarter, NLMK steel production amounted to 4.4 million tonnes, down 2% qoq and 4% yoy. The decline is due to the low productivity of NLMK long products.