The Eurasian Economic Commission (EEC), an executive body of the Eurasian Economic Union (EAEU), has suspended a decision in an abuse of market dominance case of Russian steelmaker Novolipetsk Steel (NLMK) on request of Russian Prime Minister Dmitry Medvedev, the commission said in a statement. In September, the commission imposed a fine for violation of…
NLMK Lipetsk, NLMK Group’s flagship production site, has completed guarantee testing of pulverized coal injection (PCI) technology at blast furnace No. 6 (with a capacity of 3.1 million tons per year), and at blast furnace No. 7 (with a capacity of 4.3 million tons per year). Tests confirmed that the equipment had reached design capacity.…
At a meeting on October 27, NLMK Group’s Board of Directors recommended the company’s shareholders to approve payment of Q3 dividends of RUB 5.13 per share at the upcoming Extraordinary General Shareholder Meeting (EGM) to be held on December 22. Q3 dividend yield will total 15.5%. NLMK Board of Directors has also recommended that the…
The net profit of the Russian steelmaker Novolipetsk Steel (NLMK) soared by 63% YoY, to $1.022 billion in January-September, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on October 27. Revenue grew by 28%, to $7.25 billion, and EBITDA by 31%, to $1.869 billion. In July-September, the net profit…
In January-September Lipetsk region foreign turnover increased by 42.5% YoY, to 3.4 billion rubles. According to the local customs office, exports increased by 42.6%, to $2.8 billion, imports – by 42%, to $223 million. NLMK ferrous metals accounted for 96.5% of the total exports. (Ukrainian metal)
In July-September steel output grew to 4.4 million tons, by 6% QoQ and by 8% YoY, due to increased output at NLMK’s Russian divisions driven by the seasonal uptick in demand on the Russian market. Group sales grew by 1% both QoQ and YoY, to 4.24 million tons. Key growth factors: seasonal growth in demand…
Dr. Bruno Charles De Cooman, NLMK Group Vice President for Research and Development, has been awarded the prestigious Adolf Martens Memorial Steel Lecture for his research into the properties of ultrahigh-strength steels. The award ceremony took place on October 10 at the Material Science & Technology 2017 International conference in Pittsburgh (USA). This award was…
The EU fixed duties on Russian hot-rolled metal, imposed on October 7, could open new ways for NLMK to enter the markets of Turkey and Asia, as well as strengthen the position of its European works. In H1 NLMK Le Louviere (Belgium) produced 770 thousand tons of hot-rolled metal with the mill capacity of 2.5…
