Steel Mills
February 8, 2019
NLMK USA Has Great Year, Weaker Q4
Written by Sandy Williams
Sales at NLMK USA fell 15 percent from third- to fourth-quarter 2018 on expectation of lower steel prices. Shipments dropped 500,000 metric tons from 590,000 tons, sequentially. The decrease in shipments, combined with a 3 percent decline in average price, led to sales falling 17 percent to $500 million.
On a yearly basis, NLMK USA performed well. Shipments were up 2 percent year-over-year to 2.3 million metric tons and revenue increased 28 percent to $2.213 billion. “Prices surged to abnormal levels spurred by Section 232,” wrote NLMK. Slab sales from NLMK Group to its U.S. segment decreased during the year due to trade restrictions.
