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Novolipetsk Steel

October 17, 2022

Q3 and 9M 2022 NLMK Group Trading Update

Q3 2022 highlights:

  • Steel output totalled 3.9 m t (-11% qoq; +1% yoy) amid reduced production at NLMK Lipetsk due to decrease in steel demand in Europe and sanction restrictions.

  • Sales went up by 8% qoq to 4.3 m t (+5% yoy) driven by normalization of steel stocks accumulated in Q2 2022 and recovery of flat steel demand in Russia and Turkey. Sales of finished products increased by 29% qoq to 2.9 m t (+4% yoy). 

9M 2022 highlights:

  • Steel output totalled 12.8 m t (flat yoy).

  • Sales increased by 4% yoy to 12.9 m t, including due to selling off of stocks accumulated at 2021 year-end.

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