Steel Mills
May 22, 2014
NLMK Sales Increase in First Quarter
Written by Sandy Williams
NLMK announced improved sales for the Group and NLMK USA in its Q1 2014 US GAAP results. The Group’s steelmaking capacity utilization ran at 92 percent through first quarter with steel sales up 8 percent quarter over quarter to 3.866 million tons. Crude steel production dropped 4 percent quarter over quarter due to seasonal factors and industrial trials at NLMK Kaluga.
Revenue for the Group increased by 5 percent to $2.638 billion. Net income for the quarter was $174 million. Sales to North America increased by 12 percent and to Europe by 11 percent.
