Steel Mills
July 16, 2019
NLMK Trading Update Shows Drop in Sales for U.S. Segment
Written by Sandy Williams
NLMK USA’s second-quarter sales dropped 3 percent from the previous quarter to 580,000 metric tons due to lower shipments in anticipation of further deterioration of steel prices. Flat steel prices in the U.S. went down by 6-11 percent from first to second quarter and 23-30 percent on a year-over-year basis. Pricing was impacted by steel oversupply and exacerbated by the lifting of Section 232 tariffs on steel products from Canada and Mexico, said NLMK.
NLMK noted a 10 percent quarter-over-quarter decline in U.S. scrap prices driven by lower rolled steel prices.
