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Novolipetsk's steel output rises 8% in Q3

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Novolipetsk's steel output rises 8% in Q3

PJSC Novolipetsk Steel's third-quarter steel output increased 8% year over year to 4.4 million tonnes due to a production increase at the Lipetsk operations.

The company's sales improved 1% year over year to 4.2 million tonnes on the back of a seasonal increase in demand in the Russian market and improved conditions globally.

Sales in home markets jumped 7% year over year, reaching a record 2.9 million tonnes, supported by stable demand from the pipe and tube, machine-building and white goods sectors in Russia.

External market sales declined 4% year over year to 1.4 million tonnes, according to an Oct. 16 release.

Novolipetsk's iron ore production remained flat year over year at 4.3 million tonnes, while sales for iron ore slipped 5% year over year to 4.4 million tonnes.

Crude steel output surged 41% to 150,000 tonnes, while finished steel output jumped 37% on a yearly basis.