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Russia's NLMK says Q1 steel output flat q/q
April 14, 2017 / 11:14 AM / 5 months ago

Russia's NLMK says Q1 steel output flat q/q

MOSCOW, April 14 (Reuters) - Russia’s largest steel producer NLMK said on Friday its first-quarter output remained unchanged from the previous quarter at 4.21 million tonnes as strong sales outside Russia offset the seasonal drop in demand inside the country.

The steelmaker, controlled by Russian billionaire Vladimir Lisin, also said its first-quarter sales rose 1 percent quarter-on-quarter to 3.68 million tonnes.

The growth in flat steel sales by NLMK’s Russian and international divisions offset the fall in long steel sales caused by a seasonal slowdown in demand, NLMK said in a statement. (Reporting by Andrey Kuzmin and Anastasia Lyrchikova; writing by Polina Devitt; editing by Andrey Ostroukh)

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