Novolipetsk Steel Sales, Production Fell in 3Q
By Adria Calatayud
Novolipetsk Steel (NLMK.MZ) said Tuesday that sales for the
third quarter of 2019 fell 9% on year and production declined.
The Russian steel company sold 4.02 million tons of steel in the
quarter to Sept. 30, which represented a 6% decline on the previous
Third-quarter sales volumes were hit by lower sales of
semi-finished products due to repairs at its Lipetsk site in Russia
and lower demand from its European companies, the company said.
Novolipetsk said steel output dropped 16% on year in the third
quarter to 3.7 million tons, or 6% on quarter.
In the first nine months of 2019, the company's steel output
fell 9% to 11.9 million tons, it said.
Write to Adria Calatayud at
(END) Dow Jones Newswires
October 15, 2019 05:20 ET (09:20 GMT)
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