NLMK STEEL OUTPUT FALLS 12 percent IN OI YEARONYEAR

摘要

.Novolipetsk Iron & Steel Company (NLMK) reduced steel output 12 percent in the first quarter year-on-year to 2.1 million tonnes, the company said in an update. Sales fell 25.3 percent in the quarter year-on-year to 1.945 million tonnes, but rose 3.5 percent compared with the fourth quarter of 2008. Steel output was 21 percent higher in the first quarter than in the fourth quarter of 2008 after the company restarted blast furnaces that had been shut down late last year. Production increased in part due to reviving demand on foreign markets, particularly China and Southeast Asia. Domestic demand began to pick up at the end of the first quarter as Russian trading and manufacturing companies restocked following the devaluation of the ruble and some stabilization of prices in February and March.