Russia: NLMK's crude steel output up 10% y-o-y in CY'21

Russia's leading steel producer, the NLMK Group, posted a y-o-y increase in crude steel output in Jan-Dec'21. However, sales of steel products registered a 4% drop in CY'21.

The company released Q4 and CY'21 operational results on 20 Jan'22.

CY'21 highlights:

• Crude steel output was recorded at 17.4 million tonnes (mn t), an increase of 10% y-o-y following equipment ramp-up after upgrades of BF and BOF operations at NLMK Lipetsk and output growth in the Russia Long Products and NLMK USA segments.
  
  
• Total steel sales stood at 16.8 mn t, a drop of 4% y-o-y amidst recovery of intragroup slab supplies from NLMK Lipetsk to NLMK USA to 1.3 mn t and lower commercial pig iron sales as steel output grew, which was partially offset by higher shipments of finished products to third parties.
  
  
• Finished steel sales were at 11.2 mn t.
  
  
• Semi-finished sales were at 5.6 mn t.
  
  
• Sales in the domestic markets grew by 6% y-o-y to 11.4 mn t while exports went down by 22% y-o-y to 5.2 mn t. Exports fell due to the high baseline of 2020, when supplies were redistributed to external markets due to weak demand in Russia and USA amid strict quarantine measures.
  
  

Q4CY'21 highlights:

• Steel output stood at 4.5 mn t, up 16% q-o-q.
  
  
• Steel sales grew by 8% q-o-q to 4.5 mn t.
  
  
• Domestic sales rose by 14% q-o-q to 3.2 mn t.