Russia: NLMK’s steel sales fall 7% in H1 CY’21 due to drop in exports

NLMK Group’s Q2 and H1 CY’21 steel sales highlights:

• Consolidated steel sales fell by 7% y-o-y to 8.23 mn t in H1, with 32% exports share (down by 7% y-o-y).
• Drop in sales was due to redistribution of slab supplies to NLMK USA amid strong consumption trends in the region.
• In Q2, steel sales were at 4.3 mn t, up 11% q-o-q. Increase in slabs exports to the Middle East and EU markets resulted in higher exports in Q2.