NLMK Group (LSE: NLMK, MOEX: NLMK) increased steel production by 12% qoq (+ 4% yoy) to 4.4 million tonnes. Consolidated sales decreased by 7% qoq to 3.9 mt (-13% YoY) with a decrease in sales of merchant pig iron amid repairs at NLMK's blast furnace production and an increase in intra-group supplies of slabs.
Key indicators 1Q. 2021:
- Steel production increased to 4.4 million tonnes (+ 12% QoQ; + 4% YoY) due to an increase in the productivity of NLMK equipment after reconstruction, as well as the completion of scheduled repairs in the Russia Long Products segment.
- External sales decreased by 7% qoq (-13% yoy) to 3.9 mt overhaul of one of NLMK's blast furnaces, as well as with the resumption of intra-group supplies of slabs to NLMK USA to meet local demand for finished steel (in stock at the end of Q1). In addition, at the end of the quarter, stocks were accumulated in the ports of the Black Sea due to unfavorable weather conditions, the corresponding metal will be sold in the 2nd quarter of this year.
- Sales in the "home" markets grew by 4% q QoQ (-10% YoY) to 2.7 Mt
- Sales in export markets decreased to 1.2 Mt (-21% QoQ; -12% YoY) from a decrease in pig iron sales and an increase in intercompany shipments of slabs
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