April 30, 2020 / 3:00 PM / a month ago

Russia's NLMK sees 2020 capex at $750 mln under stressed-market scenario

MOSCOW, April 30 (Reuters) - Russian steelmaker NLMK said on Thursday it saw 2020 capital expenditure at $750 million under a stressed-market scenario, adding the actual figure would depend on market conditions.

Earlier on Thursday, NLMK said it was lowering its capex forecast for the year to ensure financial stability amid market uncertainty caused by the coronavirus outbreak.

A further decision on capex reductions will be taken in June, NLMK head Grigory Fedorishin told investors during a conference call. (Reporting by Anastasia Lyrchikova; Writing by Alexander Marrow; Editing by Mark Potter)

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