OJSC Novolipetsk Steel, or NLMK, on Jan. 19 said its crude steel output in the fourth quarter of 2016 increased 8% year over year to 4.2 million tonnes due to improved productivity following repairs and strong demand for its products, including billet exports.
However, group sales in the quarter dropped 4% to 3.6 million tonnes, attributed to a 17% decline in semifinished product sales. Finished product sales for the quarter increased 6% to 2.25 million tonnes mainly due to a 43% growth in long steel and metalware sales.
In the full-year 2016, NLMK's total crude steel output grew 4% on a yearly basis to a record 16.64 million tonnes thanks to improved productivity.
Sales during 2016 meanwhile remained stable year over year at 15.89 million tonnes. Share of finished product sales increased by 2 percentage points to 64% on a yearly basis.
The Russian steel major did not provide any guidance for 2017.