NLMK Group’s Q3 2020 steel output increased 3pc to 3.9mn mt compared to the same quarter a year ago. However, steel production trended flat over the previous quarter.
According to the company’s Q3 2020 trading stats, steel sales increased by 11pc to 4.4mn mt compared to the same quarter in 2019, driven by higher pig iron sales to China, Turkey, and the US. Export sales increased by 42pc to 1.8mn mt in Q3 2020 over the prior-year period but declined 10pc compared to the preceding quarter as Russian activity recovered. Domestic sales declined by 2pc to 2.8mn mt in Q3 2020 on an annual basis, led by weak demand for slabs and large-diameter pipe in Russia. However, semi-finished product sales improved by 19pc in Q3 over the previous quarter.
For the January-September 2020 steel output remained flat compared to 2019 at 11.9mn mt. Sales for this period increased by 3pc to 13.3mn mt. Pig iron sales increased four-fold to 1mn mt in the first nine months of 2020 against the same period in 2019. Lower steel demand in the US market caused the decline of domestic sales by 4pc to 8.1mn mt in the Jan-Sep 2020 period. Sales of pig iron and slabs drove export market growth by 16pc in the nine-month period in 2020 to 5.2mn mt compared to the prior year.