13 Jul 2018 10:00
Press release
13 July 2018
Q2 2018 NLMK GROUP TRADING UPDATE*
In Q2 2018, steel output grew by 1% to 4.38 m t (+6% yoy); capacity utilization rate grew by 1 p.p. qoq to 99%. Group sales in Q2 2018 totaled 4.38 m t (+6% qoq; +4% yoy).
Q2 2018 highlights:
· Steel output grew by 1% to 4.38 m t driven by high capacity utilization at the NLMK Russia Long Products Division. The 6% yoy growth was associated with the increase in demand for Group products in its key markets.
· Group sales increased by 6% qoq to 4.38 m t due to the growth of flat steel sales in Russia and the US. The share of finished products in Group sales grew by 2 p.p. qoq to 62%. Sales grew by 4% yoy, driven by the growth of pig iron and slab sales.
· Group sales in home markets accounted for 62% (-1 p.p. qoq; -2 p.p. yoy) in total sales.
H1 2018 highlights:
· Steel output grew by 4% yoy, driven by increased demand in the Group's sales markets.
· Group sales increased by 8% yoy to 8.53 m t due to growth of semi-finished product sales.
· Group sales in home markets accounted for 63% (flat yoy) in total sales.
* Hereinafter, Q2 and H1 output and sales data is preliminary and can be updated. Hereinafter, NLMK Group steel output and sales in home markets are shown taking into account NBH performance. Product sales are shown without taking into account NBH performance. Sales to NLMK Group's home markets are understood to be sales by NLMK Group companies in the regions where the products are produced in Russia, the EU and the USA.
| Media contact info: Sergey Babichenko +7 (916) 824 6743 babichenko_sy@nlmk.com | IR contact info: Dmitry Kolomytsyn, CFA +7 (495) 504 0504 ir@nlmk.com |
NLMK Group's Q2 2018 operating performance
Steel output grew by 1% qoq (+6% yoy) to 4.38 m t.
Sales reached 4.38 m t (+6% qoq) due to the growth in demand for finished products on the Russian and the US markets.
Compared to Q2 2017, sales grew by 4% yoy, due to the increase in sales of semi-finished products.
Sales breakdown: Finished product sales grew by 9% qoq to 2.73 m t, due to the seasonal recovery in demand in Russia and a pick-up in business activity in the US.
Yoy sales of finished products decreased by 7%, due to the decrease in long product sales as a result of stocks being normalized during the slow-down in demand caused by the World Cup.
Semis sales to third parties dropped 5% qoq to 0.99 m t (+47% yoy) due to the decrease in pig iron and billet sales (Appendix 2, Appendix 13).
Slab deliveries to NBH, NLMK's joint venture, grew by 10% qoq (+13% yoy) to 0.66 m t backed by slab stocks being accumulated at the European sites ahead of the seasonal maintenance in Q3 (Appendix 2).
Growth of sales to home markets by 2% qoq (flat yoy) to 2.69 m t was driven by the seasonal recovery in buying activity in Russian, and growth of demand in the US. Local sales of NLMK Group's companies in the US grew by 15% qoq, due to increased demand triggered by trade restrictions. Sales by European companies to their home market decreased by 13% qoq (Appendix 1) as a result of the seasonal decrease in demand.
Sales to external markets grew by 4% qoq to 1.62 m t. Year-on-year sales growth of 8% is associated with an increase in pig iron and slab exports (+45% yoy) to the US, Europe and Latin America.
Price trends:
Q2 2018
Average raw material prices in the global market:
· Average coal price in the global market dropped 7% qoq (+13% yoy), due to the throughput capacity at Australia's key ports being normalized.
· Average prices for iron ore dropped 11% qoq (+5% yoy) against the backdrop of fading purchasing intensity of Chinese manufacturers.
· Scrap prices in the US grew by 10% qoq (+30% yoy) as a result of trade restrictions on steel products. In Russia, prices grew by 3% qoq (+8% yoy) due to post-winter restocking. In the European market, scrap prices dropped 3% qoq.
Average steel product prices:
· Steel product prices in the US grew by 10-15% qoq (+23-44% yoy), backed by steel import restrictions due to the trade investigations, and growing demand from key consumers (automotive, construction).
· In the EU, steel product prices in dollar terms were down 1-2% qoq (+12-20% yoy) due to the strengthening of the US/EUR exchange rate; EUR prices were 1-2% up qoq.
· In the Russian market, average prices for uncoated flat steel lost 1-2% qoq (+10-13% yoy) in dollar terms, due to the devaluation of the RUB/US$ exchange rate; RUB prices were up by 6-8%, driven by the seasonal recovery in demand. Average rebar prices climbed 2% qoq (+28% yoy).
· Export slab prices (FOB Black Sea) remained flat qoq (+33% yoy), supported by stable demand for semis.
SEGMENTAL PERFORMANCE
NLMK RUSSIA FLAT PRODUCTS1
Q2 2018 performance
Steel output dropped 2% qoq (+5% yoy) to 3.29 m t (Appendix 9) due to planned equipment maintenance.
Sales grew by 3% qoq, driven by the seasonal pick-up of demand for steel products in the Russian market (Appendix 2).
The 3% growth of sales yoy was supported by the recovery in demand for HVA products and slabs for large-diameter tubes in Russia, and growth of pig iron sales to third parties in export markets.
Sales breakdown: Finished steel sales went up 18% qoq (-8% yoy), driven by the seasonal increase of demand in Russia. Growth of HVA sales totalled 9% qoq.
Sales of semi-finished products decreased by 6% qoq (+14% yoy), due mainly to the drop in slab sales to NLMK Group's assets in the US, where sufficient stocks were accumulated in Q1 2018. This factor was partially offset by the growth of export slab sales to third parties.
Sales markets: Sales in Russia rose by 10% qoq to 1.08 m t, driven by the seasonal recovery in demand for finished products. Total sales in external markets remained flat. Export sales of semis to NLMK's own international facilities dropped 11% qoq, due to optimal levels of NLMK USA slab stocks. Export sales to third parties grew by 12% qoq (+14% yoy).
Compared to Q2 2017, sales in Russia increased by 11% yoy: growth in slab sales for the production of large-diameter tubes totaled 60% yoy; sales of finished products rose +5% yoy (Appendix 3).
1 NLMK Russia Flat companies include NLMK Lipetsk, VIZ Steel, and Altai-Koks. Export sales are calculated including the corresponding share of trading companies.
NLMK RUSSIA LONG PRODUCTS 2
Q2 2018 performance
Steel output increased by 14% qoq to 0.85 m t (+7% yoy) due to an anticipated growth of demand and restocking activities following a period of active sales earlier in the year (Appendix 9).
Sales decreased by 17% qoq (Appendix 4) due mostly to the decrease in the sales of billets and finished products, and the drop in sales of finished steel on the Russian market (-10% qoq). The slowdown in business activity during the World Cup had an impact on Q2 2018 sales.
Compared to the similar period last year, segment sales went down by 32% yoy.
Sales markets: The share of Russian sales grew by 4 p.p. qoq to 51% (-4 p.p. yoy). The breakdown of segment sales shifted towards an increase in finished product sales to 75% (+3 p.p. qoq). The share of finished products in export sales also climbed by +3 p.p. qoq to reach 51%.
Scrap: Scrap sales grew more than 100% qoq (+11% yoy) to 1.49 m t amid the seasonal uptick in scrap collection and scrap post-winter restocking. 99% of scrap is supplied to NLMK Group facilities (Appendix 4).
2 NLMK Russia Long companies include NLMK Ural, NLMK Metalware, NLMK Kaluga and scrap collecting facilities. Export long product sales are calculated including the corresponding share of trading companies.
MINING AND PROCESSING OF RAW MATERIALS
Q2 2018 performance
Output of iron ore totaled 4.49 m t (+1% qoq), driven by the growth of productivity of the beneficiation plant (Appendix 12). In yoy terms, output was also up 1%.
Pellet output totaled 1.67 m t (flat qoq; +3% yoy), 6.68 m t on a year-on-year basis.
Iron ore sales remained flat qoq at 4.52 m t (+3% yoy). This growth was supported by the growth of iron ore needs at NLMK Lipetsk. (Appendix 5)
NLMK USA 3
Q2 2018 performance
Sales: Grew by 15% qoq to 0.64 m t, driven by stronger demand on the US market (Appendix 6).
The 14% increase year-on-year is also attributable to the US market picking up steam in 2018 in response to the protectionist measures to restrict imports, among other factors.
NLMK DANSTEEL
Q2 2018 performance
Sales of plate dropped 4% qoq to 0.14 m t due to the seasonal weakening in demand. Compared to Q2 2017, sales rose 22%, driven by growth of demand from key plate consumers (Appendix 7).
3 NLMK USA includes NLMK Indiana, NLMK Pennsylvania, and Sharon Coating. Data for NLMK USA is presented in metric tonnes.
JOINT VENTURE -NLMK Belgium Holdings (NBH)4
Q2 2018 performance
NBH sales went down by 10% qoq to 0.58 m t (+4% yoy), due to the seasonal slowdown in business activity in the European market (Appendix 8).
Sales of flat steel dropped to 0.38 m t (-10% qoq and +7% yoy) due mainly to the decrease in HRC sales.
Sales of plate and ingots fell by 9% qoq to 0.2 m t (-2% yoy) due to the seasonal weakening in demand.
NLMK slab supplies in Q2 2018 increased by 10% qoq to 0.66 m t (+13% yoy), due to the need to restock ahead of the seasonal maintenance in Q3 2018 (Appendix 2).
4 NBH assets include producers of plates - NLMK Clabecq (Belgium), NLMK Verona (Italy) - and producers of flat steel - NLMK La Louvière (Belgium) and NLMK Strasbourg (France).
Note: figures from the diagrams can be found in the tables in the Appendix. They can also be downloaded as a separate Excel file.
Appendices
Appendix 1. NLMK Group operating highlights
Production, m t | Q2 2018 | Q1 2018 | QoQ | Q2 2017 | YoY | 6M 2018 | 6M 2017 | YoY |
Crude steel production (without NBH) | 4.326 | 4.269 | 1% | 4.082 | 6% | 8.594 | 8.234 | 4% |
Crude steel production (with NBH) | 4.381 | 4.326 | 1% | 4.144 | 6% | 8.708 | 8.355 | 4% |
Capacity utilization | 99% | 98% | +1 p.p. | 98% | +1 p.p. | 99% | 97% | +2 p.p. |
Sales, m t |
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Semi-finished steel 5 | 1.651 | 1.643 | 0% | 1.257 | 31% | 3.294 | 2.492 | 32% |
Finished steel | 2.733 | 2.503 | 9% | 2.939 | -7% | 5.236 | 5.377 | -3% |
Flat | 2.251 | 1.948 | 16% | 2.229 | 1% | 4.199 | 4.254 | -1% |
Longs and metalware | 0.482 | 0.556 | -13% | 0.710 | -32% | 1.038 | 1.123 | -8% |
Total consolidated sales | 4.384 | 4.146 | 6% | 4.195 | 4% | 8.530 | 7.869 | 8% |
Sales to home markets of the Group 6 | 62% | 63% | -1 p.p. | 64% | -2 p.p. | 62% | 63% | -1 p.p. |
Sales to external markets | 38% | 37% | +1 p.p. | 36% | +2 p.p. | 38% | 37% | +1 p.p. |
For information: slab sales to foreign subsidiaries and affiliates | 1.118 | 1.254 | -11% | 1.270 | -12% | 2.372 | 2.450 | -3% |
Segment sales |
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Russian Flat Products | 3.433 | 3.338 | 3% | 3.328 | 3% | 6.770 | 6.397 | 6% |
Russian Long Products | 0.639 | 0.770 | -17% | 0.935 | -32% | 1.409 | 1.408 | 0% |
Mining | 4.518 | 4.510 | 0% | 4.392 | 3% | 9.028 | 8.519 | 6% |
NLMK USA | 0.638 | 0.553 | 15% | 0.559 | 14% | 1.191 | 1.120 | 6% |
Dansteel | 0.137 | 0.142 | -4% | 0.112 | 22% | 0.278 | 0.246 | 13% |
For information: NBH Sales | 0.578 | 0.640 | -10% | 0.556 | 4% | 1.218 | 1.155 | 5% |
5 5 Including commercial pig iron, slabs and billets
6 Home markets: Russia for the Russian assets of NLMK Group, North America for NLMK USA and the EU market for NLMK Dansteel and NBH
Appendix 2. NLMK Russia Flat sales by product
Sales, m t | Q2 2018 | Q1 2018 | QoQ | Q2 2017 | YoY | 6M 2018 | 6M 2017 | YoY |
Pig iron | 0.205 | 0.260 | -21% | 0.059 | > 100% | 0.465 | 0.114 | > 100% |
Slabs incl. | 1.750 | 1.823 | -4% | 1.659 | 5% | 3.573 | 3.310 | 8% |
Slab sales to foreign subsidiaries and affiliates | 1.118 | 1.254 | -11% | 1.270 | -12% | 2.372 | 2.450 | -3% |
to NLMK USA, NLMK Dansteel | 0.458 | 0.655 | -30% | 0.688 | -33% | 1.112 | 1.220 | -9% |
to NBH | 0.660 | 0.600 | 10% | 0.582 | 13% | 1.259 | 1.229 | 2% |
Hot-rolled steel | 0.666 | 0.514 | 30% | 0.751 | -11% | 1.181 | 1.402 | -16% |
Cold-rolled steel | 0.362 | 0.318 | 14% | 0.438 | -17% | 0.679 | 0.793 | -14% |
Galvanized steel | 0.198 | 0.197 | 0% | 0.165 | 19% | 0.394 | 0.310 | 27% |
Pre-painted steel | 0.101 | 0.087 | 17% | 0.102 | -1% | 0.188 | 0.177 | 6% |
Dynamo steel | 0.077 | 0.072 | 7% | 0.087 | -12% | 0.149 | 0.169 | -12% |
Transformer steel | 0.073 | 0.068 | 8% | 0.066 | 10% | 0.141 | 0.122 | 15% |
incl. VIZ-Steel | 0.043 | 0.041 | 5% | 0.040 | 8% | 0.084 | 0.076 | 10% |
Total products | 3.433 | 3.338 | 3% | 3.328 | 3% | 6.770 | 6.397 | 6% |
Coke sales from Altai-Koks 5 | 0.865 | 0.897 | -4% | 1.037 | -17% | 1.763 | 2.049 | -14% |
incl. to NLMK Lipetsk | 0.682 | 0.673 | 1% | 0.749 | -9% | 1.355 | 1.559 | -13% |
Appendix 3. NLMK Russia Flat sales by region and product
Sales, m t | Q2 2018 | Q1 2018 | QoQ | Q2 2017 | YoY | 6M 2018 | 6M 2017 | YoY |
Russian market | 1.080 | 0.983 | 10% | 0.975 | 11% | 2.063 | 1.763 | 17% |
Semi-finished products | 0.159 | 0.204 | -22% | 0.100 | 59% | 0.363 | 0.220 | 65% |
Hot-rolled steel | 0.410 | 0.303 | 35% | 0.391 | 5% | 0.713 | 0.664 | 7% |
Cold-rolled steel | 0.207 | 0.202 | 2% | 0.213 | -3% | 0.409 | 0.380 | 8% |
Galvanized steel | 0.179 | 0.167 | 7% | 0.148 | 21% | 0.346 | 0.282 | 23% |
Pre-painted steel | 0.100 | 0.085 | 17% | 0.101 | -1% | 0.184 | 0.171 | 8% |
Dynamo steel | 0.016 | 0.012 | 31% | 0.014 | 16% | 0.029 | 0.027 | 5% |
Transformer steel | 0.011 | 0.009 | 22% | 0.009 | 15% | 0.020 | 0.019 | 5% |
Export markets | 2.352 | 2.355 | 0% | 2.353 | 0% | 4.707 | 4.634 | 2% |
Semi-finished products | 1.797 | 1.879 | -4% | 1.618 | 11% | 3.675 | 3.204 | 15% |
Hot-rolled steel | 0.257 | 0.211 | 22% | 0.360 | -29% | 0.468 | 0.738 | -37% |
Cold-rolled steel | 0.155 | 0.115 | 34% | 0.225 | -31% | 0.270 | 0.412 | -34% |
Galvanized steel | 0.019 | 0.030 | -35% | 0.018 | 9% | 0.049 | 0.028 | 71% |
Pre-painted steel | 0.002 | 0.002 | -10% | 0.002 | 9% | 0.004 | 0.006 | -33% |
Dynamo steel | 0.061 | 0.060 | 2% | 0.073 | -17% | 0.121 | 0.142 | -15% |
Transformer steel | 0.062 | 0.059 | 6% | 0.057 | 9% | 0.121 | 0.104 | 17% |
Total sales | 3.433 | 3.338 | 3% | 3.328 | 3% | 6.770 | 6.397 | 6% |
Appendix 4. NLMK Russia Long sales by product
Sales, m t | Q2 2018 | Q1 2018 | QoQ | Q2 2017 | YoY | 6M 2018 | 6M 2017 | YoY |
Billet | 0.157 | 0.215 | -27% | 0.226 | -31% | 0.372 | 0.286 | 30% |
Rebar | 0.331 | 0.387 | -15% | 0.536 | -38% | 0.718 | 0.833 | -14% |
Sections | 0.017 | 0.016 | 10% | 0.009 | 90% | 0.033 | 0.012 | > 100% |
Wire rod | 0.079 | 0.091 | -13% | 0.093 | -15% | 0.169 | 0.147 | 15% |
Metalware | 0.056 | 0.062 | -10% | 0.072 | -22% | 0.118 | 0.130 | -10% |
Total steel products | 0.639 | 0.770 | -17% | 0.935 | -32% | 1.409 | 1.408 | 0% |
Ferrous and non-ferrous scrap, incl. | 1.493 | 0.712 | > 100% | 1.342 | 11% | 2.205 | 2.008 | 10% |
to NLMK Ural | 0.554 | 0.276 | > 100% | 0.454 | 22% | 0.830 | 0.696 | 19% |
to NLMK Kaluga | 0.448 | 0.263 | 70% | 0.395 | 13% | 0.711 | 0.600 | 19% |
to NLMK Lipetsk | 0.477 | 0.157 | > 100% | 0.476 | 0% | 0.635 | 0.678 | -6% |
Appendix 5. Mining Division sales
Sales, m t | Q2 2018 | Q1 2018 | QoQ | Q2 2017 | YoY | 6M 2018 | 6M 2017 | YoY |
Iron ore concentrate | 2.460 | 2.452 | 0% | 2.434 | 1% | 4.912 | 5.064 | -3% |
incl. to NLMK Lipetsk | 2.460 | 2.452 | 0% | 2.434 | 1% | 4.912 | 5.054 | -3% |
Pellets | 1.678 | 1.690 | -1% | 1.581 | 6% | 3.368 | 2.716 | 24% |
incl. to NLMK Lipetsk | 1.678 | 1.690 | -1% | 1.581 | 6% | 3.368 | 2.716 | 24% |
Sinter ore | 0.380 | 0.368 | 3% | 0.377 | 1% | 0.748 | 0.740 | 1% |
incl. to NLMK Lipetsk | 0.380 | 0.368 | 3% | 0.377 | 1% | 0.748 | 0.740 | 1% |
Total | 4.518 | 4.510 | 0% | 4.392 | 3% | 9.028 | 8.519 | 6% |
incl. to NLMK Lipetsk | 4.518 | 4.510 | 0% | 4.392 | 3% | 9.028 | 8.510 | 6% |
Appendix 6. NLMK USA sales
Sales, m t | Q2 2018 | Q1 2018 | QoQ | Q2 2017 | YoY | 6M 2018 | 6M 2017 | YoY |
Hot-rolled steel | 0.369 | 0.319 | 16% | 0.295 | 25% | 0.688 | 0.606 | 14% |
Cold-rolled steel | 0.129 | 0.124 | 4% | 0.127 | 1% | 0.252 | 0.262 | -4% |
Galvanized steel | 0.139 | 0.108 | 28% | 0.135 | 3% | 0.247 | 0.246 | 1% |
Total NLMK USA 8 | 0.638 | 0.553 | 15% | 0.559 | 14% | 1.191 | 1.120 | 6% |
7 NLMK USA also sells non-significant volumes of merchant slabs not included into total rolled steel sales. In 2Q 2018 slab sales totaled 1,000 t
Appendix 7. Dansteel sales
Sales, m t | Q2 2018 | Q1 2018 | QoQ | Q2 2017 | YoY | 6M 2018 | 6M 2017 | YoY |
Thick plates | 0.137 | 0.142 | -4% | 0.112 | 22% | 0.278 | 0.246 | 13% |
Appendix 8. NBH (associated companies) sales
Sales, m t | Q2 2018 | Q1 2018 | QoQ | Q2 2017 | YoY | 6M 2018 | 6M 2017 | YoY |
Hot-rolled steel | 0.289 | 0.322 | -10% | 0.257 | 12% | 0.610 | 0.535 | 14% |
Cold-rolled steel | 0.008 | 0.011 | -20% | 0.015 | -43% | 0.019 | 0.031 | -39% |
Coated steel | 0.081 | 0.088 | -8% | 0.080 | 1% | 0.169 | 0.171 | -2% |
Total flat steel | 0.378 | 0.420 | -10% | 0.351 | 7% | 0.798 | 0.737 | 8% |
Semi-finished (ingots) | 0.018 | 0.021 | -12% | 0.022 | -17% | 0.039 | 0.043 | -8% |
Thick plates | 0.182 | 0.199 | -8% | 0.182 | 0% | 0.381 | 0.375 | 2% |
Total steel products | 0.578 | 0.640 | -10% | 0.556 | 4% | 1.218 | 1.155 | 5% |
Appendix 9. NLMK Group steel output
Production, m t | Q2 2018 | Q1 2018 | QoQ | Q2 2017 | YoY | 6M 2018 | 6M 2017 | YoY |
NLMK Lipetsk | 3.294 | 3.359 | -2% | 3.134 | 5% | 6.652 | 6.485 | 3% |
NLMK Long Products | 0.851 | 0.746 | 14% | 0.795 | 7% | 1.597 | 1.414 | 13% |
incl. NLMK Kaluga | 0.375 | 0.325 | 15% | 0.361 | 4% | 0.700 | 0.632 | 11% |
NLMK Indiana (NLMK USA) | 0.181 | 0.164 | 11% | 0.153 | 18% | 0.345 | 0.334 | 3% |
NLMK Group (without NBH) | 4.326 | 4.269 | 1% | 4.082 | 6% | 8.594 | 8.234 | 4% |
for information |
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NBH, NLMK Europe (EAF) | 0.056 | 0.058 | -3% | 0.062 | -10% | 0.113 | 0.120 | -6% |
NLMK Group (with NBH) | 4.381 | 4.326 | 1% | 4.144 | 6% | 8.708 | 8.355 | 4% |
Appendix 10. NLMK Group steel product output
Production, m t | Q2 2018 | Q1 2018 | QoQ | Q2 2017 | YoY | 6M 2018 | 6M 2017 | YoY |
Merchant pig iron | 0.172 | 0.165 | 4% | 0.103 | 67% | 0.337 | 0.132 | > 100% |
Merchant slabs | 1.217 | 1.135 | 7% | 0.810 | 50% | 2.353 | 1.989 | 18% |
Flat steel | 2.229 | 2.162 | 3% | 2.189 | 2% | 4.391 | 4.303 | 2% |
Merchant billets | 0.168 | 0.170 | -1% | 0.176 | -5% | 0.338 | 0.269 | 26% |
Long products | 0.576 | 0.497 | 16% | 0.533 | 8% | 1.074 | 0.954 | 13% |
Metalware | 0.064 | 0.064 | -1% | 0.072 | -11% | 0.128 | 0.130 | -2% |
Total products | 4.425 | 4.194 | 6% | 3.882 | 14% | 8.619 | 7.777 | 11% |
Appendix 11. NLMK Russia Flat steel product output
Production, m t | Q2 2018 | Q1 2018 | QoQ | Q2 2017 | YoY | 6M 2018 | 6M 2017 | YoY |
Merchant pig iron | 0.172 | 0.165 | 4% | 0.103 | 67% | 0.337 | 0.132 | > 100% |
Merchant slabs | 1.675 | 1.790 | -6% | 1.498 | 12% | 3.465 | 3.210 | 8% |
Hot-rolled steel | 0.641 | 0.635 | 1% | 0.686 | -7% | 1.276 | 1.374 | -7% |
Cold-rolled steel | 0.375 | 0.378 | -1% | 0.405 | -7% | 0.753 | 0.774 | -3% |
Galvanized steel | 0.221 | 0.203 | 9% | 0.181 | 22% | 0.424 | 0.357 | 19% |
Pre-painted steel | 0.102 | 0.102 | 0% | 0.112 | -9% | 0.204 | 0.218 | -6% |
Dynamo steel | 0.075 | 0.075 | 0% | 0.079 | -5% | 0.150 | 0.156 | -4% |
Transformer steel | 0.070 | 0.070 | -1% | 0.061 | 14% | 0.140 | 0.119 | 18% |
Total steel products | 3.330 | 3.417 | -3% | 3.125 | 7% | 6.747 | 6.340 | 6% |
Appendix 12. Output of main raw materials
Production, m t | Q2 2018 | Q1 2018 | QoQ | Q2 2017 | YoY | 6M 2018 | 6M 2017 | YoY |
Coke | 1.463 | 1.507 | -3% | 1.631 | -10% | 2.970 | 3.264 | -9% |
NLMK Lipetsk | 0.609 | 0.599 | 2% | 0.615 | -1% | 1.207 | 1.220 | -1% |
Altai-Koks | 0.854 | 0.908 | -6% | 1.016 | -16% | 1.762 | 2.043 | -14% |
Iron ore | 4.491 | 4.467 | 1% | 4.433 | 1% | 8.958 | 8.517 | 5% |
Iron ore concentrate | 2.445 | 2.423 | 1% | 2.433 | 1% | 4.868 | 5.042 | -3% |
Sinter ore | 0.375 | 0.376 | 0% | 0.379 | -1% | 0.751 | 0.758 | -1% |
Pellets | 1.671 | 1.668 | 0% | 1.621 | 3% | 3.339 | 2.717 | 23% |
Scrap | 0.681 | 0.322 | > 100% | 0.618 | 10% | 1.003 | 0.952 | 5% |
Appendix 13. NLMK Group steel product sales (without NBH)
Sales, m t | Q2 2018 | Q1 2018 | QoQ | Q2 2017 | YoY | 6M 2018 | 6M 2017 | YoY |
Semi-finished | 1.651 | 1.643 | 0% | 1.257 | 31% | 3.294 | 2.492 | 32% |
Pig iron | 0.201 | 0.258 | -22% | 0.057 | > 100% | 0.459 | 0.111 | > 100% |
Slabs | 1.293 | 1.170 | 11% | 0.974 | 33% | 2.463 | 2.096 | 18% |
Billet | 0.157 | 0.215 | -27% | 0.226 | -31% | 0.372 | 0.286 | 30% |
Flat steel | 2.251 | 1.948 | 16% | 2.229 | 1% | 4.199 | 4.254 | -1% |
Plate | 0.137 | 0.142 | -4% | 0.112 | 22% | 0.278 | 0.246 | 13% |
Hot-rolled steel | 1.036 | 0.833 | 24% | 1.046 | -1% | 1.869 | 2.008 | -7% |
Cold-rolled steel | 0.491 | 0.441 | 11% | 0.515 | -5% | 0.932 | 0.975 | -4% |
Galvanized steel | 0.336 | 0.305 | 10% | 0.300 | 12% | 0.642 | 0.556 | 15% |
Pre-painted steel | 0.101 | 0.087 | 17% | 0.102 | -1% | 0.188 | 0.177 | 6% |
Transformer steel | 0.073 | 0.068 | 8% | 0.066 | 10% | 0.141 | 0.122 | 15% |
Dynamo steel | 0.077 | 0.072 | 7% | 0.087 | -12% | 0.149 | 0.169 | -12% |
Long products | 0.482 | 0.556 | -13% | 0.710 | -32% | 1.038 | 1.123 | -8% |
Long | 0.426 | 0.494 | -14% | 0.638 | -33% | 0.920 | 0.993 | -7% |
Metalware | 0.056 | 0.062 | -10% | 0.072 | -22% | 0.118 | 0.130 | -10% |
Total steel products | 4.384 | 4.146 | 6% | 4.195 | 4% | 8.530 | 7.869 | 8% |