Russia: NLMK board sets date for AGM

At a meeting held on March 5, the Board of Directors of NLMK Group, a global steel company, resolved to convene its Annual General Shareholders Meeting on April 24. The Board suggested the shareholders re-elect Grigory Fedorishin as NLMK President (CEO, Chairman of the Management Board). The following BoD candidates were put forward to be…

Russia: NLMK Group expands premium product offering in European market

NLMK DanSteel, NLMK Group’s Denmark-based production site, has delivered its first thousand tons of S500MC high-strength steel plate (500 MPa yield strength) to German machine-building companies. The hot-rolled steel plates will be used to manufacture heavy vehicle components, including wheel axles parts. The use of high-strength steel ensures strong performance under high static and dynamic…

Russia: NLMK in Novolipetsk catches fire

Russian steelmaker Novolipetsk Steel (NLMK) caught fire on March 2, an official of the emergency services of the region reported. “A reversing mill was burning on the territory of the metallurgical plant,” the official said, adding that the fire was of the third type of difficulty. As of now, the fire has been extinguished. There…

Russia: NLMK steel sales down in 2019

The situation on steel product markets in 2019 was rather challenging. H2 2019 saw prices fall below the cycle average. “The dive was so deep, we estimate that 80% of global HRC production was loss-making. The margins in the sector were further pressured by increasing prices for raw materials”, NLMK Group CFO Shamil Kurmashov commented.…

Russia: NLMK recommends dividends for Q4 2019

At a meeting held on February 12, NLMK Group’s Board of Directors recommended the company’s shareholders to approve Q4 2019 dividend of 5.16 rubles per share. Taking into account dividends accrued in Q1-Q3 2019, 2019 dividends will total 19.4 rubles per share, which is approximately 120% of NLMK Group’s free cash flow for the relevant…

Russia: NLMK automates production-planning system

NLMK Lipetsk, the flagship site of NLMK Group, has embarked on piloting an automated production-scheduling system. The system is integrated into business processes at all stages of production and sales planning. The key goals of the project are to optimize the production load and to grow output, and to improve the quality of customer service.…