Novolipetsk Steel (NLMK), Russia's largest steelmaker, doubled its sales of steel slab to third parties in the first quarter of 2019 on reduced demand from the group's European companies and the effects of import duties in the United States, the company announced on Tuesday April 16.
Slab sale volumes to third parties rose to 1.12 million tonnes in January-March 2019, from 569,000 tonnes in 2018, NLMK said in its report.While sales volumes increased, the producer had to endure significantly lower prices compared with the first quarter of 2018, amid weak finished flat steel markets in most of its customers' outlet areas.Fastmarkets' CIS export slab price assessment averaged $456.45 per tonne fob Black Sea in the first quarter of 2019, down by $89.32 from $545.77 per tonne fob in the...