According to local media reports, Russian steelmaker NLMK Group’s steel production fell by 15.0 percent or 7.4 million mt in the first half of 2024 compared to the same period of 2023.
The producer’s steel product sales in the same period decreased by 11.0 percent year on year to 8 million mt due to the sale of its long product assets. NLMK stated that steel demand in the first six months was unchanged in all end-user industries.
As previously reported, NLMK had posted an 11.0 percent decrease in net profit for the first half of this year.