NLMK USA 3Q Steel sales drop

Steelmaker NLMK USA's sales volumes fell in the third quarter on lower pipe and galvanized shipments.

Sales for the US subsidiary of the Russian-based steelmaker totaled 549,000t (605,000st) in the third quarter, down by 7pc from the same period in the prior year.

The company said demand from the tube and pipe sector fell along with decreasing shipments of hot-dipped galvanized (HDG) material because of slowdowns in the construction sector.

Galvanized steel sales fell by 9pc year over year to 138,000t in the third quarter, while hot-rolled coil (HRC) sales fell by 6.5pc to 289,000t.

Steel output from NLMK's Indiana flat-rolled mill increased by 2pc to 176,000t in the third quarter.

Sales for the first three quarters of 2019 totaled 1.73mn t, down by 3pc from the 1.78mn t sold in the first three quarters of 2018. Year-to-date production at the Indiana mill increased by 3pc year-over-year to 533,000t.

source: ALCIRCLE.COM