Press release
22 January 2021
Q4 and 12M 2020 NLMK Group Trading Update
NLMK Group (LSE: NLMK, MOEX: NLMK) sales grew by 3% yoy to 17.5 m t in 2020. Steel output increased by 1% yoy to 15.8 m t.
Q4 2020 highlights:
· Steel output grew by 1% qoq to 3.9 m t (+3% yoy) following the completion of the BOF overhauls at NLMK Lipetsk.
· Sales decreased by 5% qoq to 4.2 m t due to lower slab sales coupled with inventory growth associated with seasonally high traffic at ports at year-end, and lower sales of long products due to equipment upgrades. Year-on-year, sales grew by 1%, supported by higher demand for pig iron and billet.
· Sales on 'home' markets totalled 2.6 m t (-7% qoq; -10% yoy), amid lower steel product sales in Russia.
· Sales on export markets reduced to 1.6 m t (-14% qoq; +21% yoy) amid lower slab sales to third parties.
12M 2020 highlights:
· Steel output increased by 1% yoy to 15.8 m t.
· Sales grew by 3% yoy to 17.5 m t, supported by a three-fold yoy increase in pig iron sales to 1.5 m t, amid lower steel output during BOF overhauls at NLMK Lipetsk.
· Sales on 'home' markets reduced by 6% yoy to 10.7 m t, due mostly to lower shipment volumes on the US market and long product sales in Russia.
· Sales on export markets increased by 17% yoy to 6.8 m t, driven by higher exports of pig iron and billet.
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| Investor relations contact: Dmitriy Kolomytsyn, CFA +7 (495) 504 0504 ir@nlmk.com | Media relations contact: Maria Simonova +7 (915) 322 62 25 simonova_mn@nlmk.com |
* Hereinafter, Q4 2020 and 12M 2020 output and sales figures are preliminary and can by updated. Hereinafter, NLMK Group steel output and sales on 'home' markets are shown taking into account NBH performance. Product sales are shown without taking into account NBH performance. Sales to NLMK Group's 'home' markets are understood to be sales by NLMK Group companies in the regions where the products are produced in Russia, the EU, and the US.
| NLMK Group's Q4 2020 operating performance |
| Steel output* grew by 1% qoq to 3.9 m t (+3% yoy) following the completion of BOF overhauls at NLMK Lipetsk. NLMK Lipetsk capacity utilization rate remained high at 97%. Russian Long Products capacities were running at 92%. The utilization rate of NLMK's European companies was 84%. Sales** declined to 4.2 m t (-5% qoq), due mostly to a decrease in slab sales coupled with stocks piling up in ports amid seasonally high load, as the growth in slab production and shipments following the completion of hot-end overhauls occurred at the end of the calendar year. In addition, there was a decline in long product sales due to scheduled repairs and equipment upgrades at NLMK Ural. Year-on-year, steel product sales grew by 1%. Sales mix: semi-finished product sales declined by 4% qoq to 1.6 m t due to the growth of slab inventories, and the redistribution of slab shipments to NLMK subsidiaries. Sales to third parties declined by 25% qoq to 1 m t, while slab supplies to NBH grew by 89% qoq to 0.6 m t. Finished product sales totalled 2.6 m t (-5% qoq) with lower rebar and coated steel sales vs. a high Q3 base. Year-on-year, semi-finished product sales to third parties grew by 15%, and by 11% to NBH. Finished steel sales declined by 5%. (Appendix 2). Sales on 'home' markets* declined by 7% qoq to 2.6 m t (-10% yoy). Sales in the EU grew by 9% qoq to 0.6 m t, driven mostly by HRC amid recovering demand from automotive companies. (Appendix 14). Sales on export markets* declined by 14% qoq to 1.6 m t due to lower slab sales amid stockpiling. Year-on-year, export sales increased by 21%, supported by higher pig iron shipments.
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| NLMK Group's 12M 2020 operating performance |
| Steel output* grew by 1% yoy to 15.8 m t. Sales** increased by 3% yoy to 17.5 m t. Sales mix: sales of semi-finished products to third parties grew by 25% yoy to 4.9 m t due to higher pig iron and billet exports. Slab sales to NBH totalled 2.1 m t (flat yoy) (Appendix 2). Finished rolled steel sales declined by 5% yoy to 10.5 m t amid weak demand in April-May 2020 and sales redistribution to semi-finished products. Sales on 'home' markets* reduced by 6% yoy to 10.7 m t, which was mostly due to lower sales of NLMK USA (Appendix 14). Sales in Russia remained flat year-on-year at 6.7 m t. Sales on export markets* grew by 17% yoy to 6.8 m t, due mainly to higher pig iron exports to the US, Chinese, and Turkish markets.
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| *with NBH; ** without NBH |
| Global prices in Q4 2020: |
| Average raw material prices: · Coal price trends on global markets were multidirectional. Australian coking coal prices decreased by 3% qoq (-22% yoy) due to import restrictions from China, as well as better-than-expected weather conditions in Australia. In China, coking coal prices grew by 33% qoq (+2% yoy), driven by a limited supply of raw materials from Australia and Mongolia amid high demand from steel producers. Dollar-denominated coal prices in Russia declined by 5% qoq (-47% yoy). In the second half of the quarter, there was an upward trend in prices against the backdrop of the ruble strengthening, as well as following the news about China's interest in importing Russian grades of coking coal. · Iron ore prices grew by 12% qoq (+48% yoy), hitting a decade peak, driven by high steel output in China and recovering activity in other key regions. The projected decline in iron ore output by large mining companies served as an additional price support factor. · Scrap prices in the US and the EU grew by 21% qoq (+31% yoy), driven by higher rolled steel prices, as well as strong demand across export destinations, including Turkey. Scrap collection volumes amid COVID-19 restrictive measures also continued to affect prices. In Russia, dollar-denominated prices increased by 18% qoq (+21% yoy), following global prices, and as a result of a seasonal reduction in scrap supplies. Average steel product prices: · The recovery in business activity, coupled with delayed demand due to the COVID-19 pandemic, led to higher prices in all key regions. The high price of the raw materials basket also supported the quotations. · In Russia, dollar-denominated prices for uncoated flat steel grew by 11% qoq (-3% yoy), rebar prices grew by 13% qoq (+4% yoy). · Slab prices (FOB Black Sea) increased by 23% qoq (+40% yoy), following the recovery in demand in export markets. · Average flat steel prices in the US grew by 44% qoq (+34% yoy). Average prices in December grew by 23% month-on-month. · In the EU countries, dollar-denominated flat steel prices increased by an average of 23% qoq (+29% yoy). |
| SEGMENTAL PERFORMANCE |
| NLMK RUSSIA FLAT PRODUCTS1 |
| Q4 2020 performance |
| Steel output grew by 4% qoq (flat yoy) to 3 m t as overhauls were completed at NLMK Lipetsk BOF operations. (Appendix 9). Sales in the Segment were down by 3% qoq to 3.2 m t (-2% yoy) due to lower slab sales to third parties as stock in ports increased in December 2020 (Appendix 2). Sales mix: sales of semis to third parties decreased by 27% qoq to 0.9 m t (+4% yoy), while sales to NLMK Group companies and NBH grew to 0.7 m t (+77% qoq) in order to build sufficient slab stocks at the Group's European facilities ahead of an anticipated recovery in demand in Q1 2021. Year-on-year, sales to NLMK Group companies and NBH were down by 14% due to discontinued slab supplies to NLMK USA. Finished steel sales decreased by 5% qoq to 1.5 m t (+2% yoy), due mainly to lower pre-painted steel sales as repairs were underway at continuous hot-dip galvanizing lines. (Appendix 3). Sales markets: sales in Russia stood at 1.2 m t (-5% qoq and yoy) (Appendix 3). Product exports were down by 2% qoq to 2 m t due to lower slab sales as stocks accumulated in ports. Year-on-year, exports grew by 1%. The main export destinations in Q4 2020 were the EU, Turkey, China, and the US.
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| 12M 2020 performance |
| Steel output grew by 2% yoy to 12.3 m t (Appendix 9). Sales in the Segment increased by 7% yoy to 13.4 m t as export sales of pig iron grew, along with hot-rolled steel sales on the Russian market. (Appendix 2). Sales mix: sales of finished steel reached 6.1 m t (+5% yoy) amid the completion of repairs at NLMK's Hot Strip Mill (Appendix 3). Sales of semis to third parties went up by 27% yoy to 4.6 m t, driven mainly by higher export sales of pig iron. Sales of semis to NLMK Group and NBH companies totalled 2.7 m t (-12% yoy) due to lower slab demand from NLMK's European companies and suspended slab supplies to NLMK USA. Sales markets: steel product sales in Russia grew by 6% yoy to 4.9 m t, due mainly to sales of HRC increasing to 1.9 m t (+16% yoy) and high value-added product sales increasing to 2.3 m t (+5% yoy) (Appendix 3). Export sales went up by 8% yoy to 8.4 m t due to higher pig iron sales.
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| 1 NLMK Russia Flat companies include NLMK Lipetsk, VIZ-Steel, and Altai-Koks. Export sales are calculated including the corresponding share of trading companies. |
| NLMK RUSSIA LONG PRODUCTS2 |
| Q4 2020 performance |
| Steel output decreased to 0.7 m t (-10% qoq) (Appendix 9) amid routine repairs during a slow season. Year-on-year, output grew by 17% due to increased orders for billet production. Sales decreased to 0.7 m t (-15% qoq), following the decrease in production. Upgrades and repairs at rolling operations were synched with similar works at NLMK's steelmaking facilities. Year-on-year, sales grew by 1% amid higher export sales of billets (Appendix 4). The share of finished products in total sales was 86% (-3 p.p. qoq, -14 p.p. yoy). Finished product sales went down by 18% qoq to 0.6 m t. Year-on year, sales decreased by 13% due to the high baseline of Q4 2019, when substantial volumes of finished product warehouse stocks were sold. Sales markets: sales on the Russian market were down by 20% qoq to 0.4 m t, pressured by seasonality and lower production output due to repairs. Year-on-year, sales decreased by 18% due to last year's high baseline (stock levels at 2019 year-end below structural level). The share of sales in Russia was 64% (-4 p.p. qoq, -15 p.p. yoy). Export sales went down by 4% qoq to 0.2 m t. Year-on-year, exports increased by 77% due to billet sales, mainly in Turkey and Egypt. Scrap: scrap sales remained flat quarter-on-quarter, at 1.4 m t. Year-on-year, scrap sales grew by 55%, due mainly to higher scrap demand from NLMK Kaluga following the increase in billet sales. The bulk of scrap is sold to NLMK Group companies (99%) (Appendix 4).
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| 12M 2020 performance |
| Steel output went down by 2% yoy to 2.8 m t, as production decreased amid weaker Q2 2020 demand. Sales went down by 7% yoy to 2.6 m t due to lower demand for long products in 2020 (Appendix 9, Appendix 4). Sales markets: the share of the Russian market was 66% (-4 p.p. yoy). Sales of long products in Russia went down by 12% yoy to 1.8 m t amid the COVID-19 pandemic. Export sales increased by 4% yoy to 0.9 m t due to higher billet sales to Turkey, China, and African markets. Scrap: scrap sales were up by 7% yoy to 4.6 m t, due mainly to stronger scrap demand from the Lipetsk site (Appendix 4).
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| 2 NLMK Russia Long companies include NLMK Ural, NLMK Metalware, NLMK Kaluga, and scrap collecting facilities. Export sales of long products are calculated taking into account the corresponding share of trading companies' sales.
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| MINING AND PROCESSING OF RAW MATERIALS |
| Q4 2020 performance |
| Iron ore output increased by 20% qoq (+9% yoy) to 4.9 m t after the consequences of the Q3 2020 incident at the Stoilensky ore supply conveyor gallery were eliminated (Appendix 12). Iron ore sales grew by 17% qoq to 4.8 m t (+6% yoy), following production growth. Sales of iron ore to the external market went down by 12% qoq to 139 k t (Appendix 5).
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| 12M 2020 performance |
| Iron ore output totalled 18.5 m t (flat yoy) (Appendix 12). Investment projects aimed at increasing beneficiation plant productivity offset the impact of lower concentrate output following the Q3 2020 incident. Iron ore sales remained flat year-on-year at 18.4 m t. Sales of iron ore to third parties totalled 0.8 m t (+57% yoy) (Appendix 5).
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| NLMK USA |
| Q4 2020 performance |
| Sales in the Segment totalled 0.37 m t (+1% qoq). Year-on-year, sales were 22% lower due to low NLMK Pennsylvania capacity utilization rates following a strike and a lack of slabs available for duty-free imports (Appendix 6). |
| 12M 2020 performance |
| Sales stood at 1.6 m t (-27% yoy) amid lower output and weaker steel consumption in the US due to the consequences of the COVID-19 pandemic. The share of high value-added products in the Segment portfolio was 45% (-1 p.p. yoy) (Appendix 6).
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| NLMK DANSTEEL |
| Q4 2020 performance |
| Sales increased to 0.14 m t (+47% qoq, +11% yoy) as earlier sales were recognized and demand gradually recovered. (Appendix 7). |
| 12M 2020 performance |
| Sales went down by 1% yoy to 0.52 m t as plate consumption decreased in Q2-Q3 2020 due to the pandemic (Appendix 7).
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| JOINT VENTURE - NLMK Belgium Holdings (NBH)3 |
| Q4 2020 performance |
| Sales grew by 19% qoq to 0.55 m t amid recovering flat product demand from automotive companies. Year-on-year, sales were 6% higher (Appendix 8). |
| 12M 2020 performance |
| Sales decreased by 5% yoy to 2.1 m t due to lower demand for steel products in Q2 2020 amid the COVID-19 pandemic (Appendix 8).
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| 3 NBH assets include producers of plate NLMK Clabecq (Belgium), NLMK Verona (Italy) and producers of strip products NLMK La Louvière (Belgium) and NLMK Strasbourg (France). |
Note: data to the diagrams is presented in tables in the Appendix, and is also available as a separate Excel sheet.
Appendices
Appendix 1. NLMK Group operating highlights
| Production, m t | Q4 2020 | Q3 2020 | qoq | Q4 2019 | yoy | 2020 | 2019 | yoy |
| Crude steel production (without NBH) | 3.863 | 3.824 | 1% | 3.749 | 3% | 15.667 | 15.531 | 1% |
| Crude steel production (with NBH) | 3.904 | 3.864 | 1% | 3.778 | 3% | 15.833 | 15.696 | 1% |
| Capacity utilization | 96% | 97% | -1 p.p. | 89% | +7 p.p. | 94% | 94% | 0 p.p. |
| Sales, m t |
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| Semi-finished steel 5 | 1.616 | 1.690 | -4% | 1.425 | 13% | 6.985 | 6.013 | 16% |
| Finished steel | 2.604 | 2.753 | -5% | 2.747 | -5% | 10.535 | 11.056 | -5% |
| Flat | 2.018 | 2.037 | -1% | 2.074 | -3% | 8.215 | 8.517 | -4% |
| Long and metalware | 0.587 | 0.716 | -18% | 0.674 | -13% | 2.320 | 2.539 | -9% |
| Total consolidated sales | 4.220 | 4.443 | -5% | 4.172 | 1% | 17.520 | 17.069 | 3% |
| Sales to home markets of the Group 6 | 62% | 60% | +2 p.p. | 69% | -7 p.p. | 61% | 66% | -5 p.p. |
| Sales to external markets | 38% | 40% | -2 p.p. | 31% | +7 p.p. | 39% | 34% | +5 p.p. |
| For information: slab sales to foreign subsidiaries and affiliates | 0.728 | 0.410 | 77% | 0.851 | -14% | 2.706 | 3.069 | -12% |
| Segment sales |
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| Russia Flat Products | 3.172 | 3.281 | -3% | 3.226 | -2% | 13.355 | 12.460 | 7% |
| Russia Long Products | 0.682 | 0.802 | -15% | 0.674 | 1% | 2.647 | 2.850 | -7% |
| Mining | 4.819 | 4.112 | 17% | 4.560 | 6% | 18.415 | 18.446 | 0% |
| NLMK USA | 0.370 | 0.366 | 1% | 0.472 | -22% | 1.604 | 2.205 | -27% |
| DanSteel | 0.142 | 0.097 | 47% | 0.128 | 11% | 0.524 | 0.529 | -1% |
| For information: NBH Sales | 0.549 | 0.461 | 19% | 0.518 | 6% | 2.083 | 2.185 | -5% |
5 Including commercial pig iron, slabs and billets
6 Home markets: Russia for the Russian assets of NLMK Group, North America for NLMK USA, and the EU market for NLMK DanSteel and NBH
Appendix 2. NLMK Russia Flat Products sales by product
| Sales, m t | Q4 2020 | Q3 2020 | qoq | Q4 2019 | yoy | 2020 | 2019 | yoy |
| Pig iron | 0.437 | 0.389 | 12% | 0.253 | 73% | 1.485 | 0.510 | > 100% |
| Slabs incl. | 1.229 | 1.314 | -6% | 1.497 | -18% | 5.779 | 6.148 | -6% |
| Slab sales to foreign subsidiaries and affiliates | 0.728 | 0.410 | 77% | 0.851 | -14% | 2.706 | 3.069 | -12% |
| to NLMK USA, NLMK DanSteel | 0.146 | 0.102 | 43% | 0.328 | -55% | 0.610 | 0.965 | -37% |
| to NBH | 0.582 | 0.308 | 89% | 0.523 | 11% | 2.096 | 2.104 | 0% |
| Hot-rolled steel | 0.701 | 0.680 | 3% | 0.669 | 5% | 2.785 | 2.506 | 11% |
| Cold-rolled steel | 0.374 | 0.411 | -9% | 0.364 | 3% | 1.524 | 1.569 | -3% |
| Galvanized steel | 0.203 | 0.229 | -11% | 0.213 | -4% | 0.833 | 0.780 | 7% |
| Pre-painted steel | 0.082 | 0.129 | -36% | 0.113 | -27% | 0.405 | 0.419 | -3% |
| Non-grain-oriented steel | 0.068 | 0.066 | 3% | 0.050 | 36% | 0.268 | 0.253 | 6% |
| Grain-oriented steel | 0.078 | 0.064 | 23% | 0.066 | 18% | 0.277 | 0.274 | 1% |
| incl. VIZ-Steel | 0.045 | 0.038 | 17% | 0.035 | 30% | 0.161 | 0.151 | 6% |
| Total products | 3.172 | 3.281 | -3% | 3.226 | -2% | 13.355 | 12.460 | 7% |
| Coke sales from Altai-Koks | 0.775 | 0.827 | -6% | 0.799 | -3% | 3.253 | 3.108 | 5% |
| incl. to NLMK Lipetsk | 0.532 | 0.585 | -9% | 0.627 | -15% | 2.492 | 2.220 | 12% |
Appendix 3. NLMK Russia Flat Products sales by region and product
| Sales, m t | Q4 2020 | Q3 2020 | qoq | Q4 2019 | yoy | 2020 | 2019 | yoy |
| Russian market | 1.200 | 1.269 | -5% | 1.268 | -5% | 4.911 | 4.643 | 6% |
| Semi-finished products | 0.122 | 0.106 | 15% | 0.173 | -30% | 0.693 | 0.810 | -14% |
| Hot-rolled steel | 0.497 | 0.520 | -4% | 0.518 | -4% | 1.923 | 1.651 | 16% |
| Cold-rolled steel | 0.270 | 0.263 | 3% | 0.234 | 16% | 0.977 | 0.926 | 6% |
| Galvanized steel | 0.198 | 0.220 | -10% | 0.201 | -2% | 0.794 | 0.727 | 9% |
| Pre-painted steel | 0.081 | 0.128 | -36% | 0.112 | -28% | 0.402 | 0.415 | -3% |
| Non-grain-oriented steel | 0.018 | 0.020 | -6% | 0.017 | 7% | 0.076 | 0.071 | 7% |
| Grain-oriented steel | 0.014 | 0.012 | 12% | 0.012 | 10% | 0.046 | 0.043 | 7% |
| Export markets | 1.972 | 2.012 | -2% | 1.958 | 1% | 8.443 | 7.817 | 8% |
| Semi-finished products | 1.544 | 1.596 | -3% | 1.577 | -2% | 6.570 | 5.848 | 12% |
| Hot-rolled steel | 0.203 | 0.160 | 27% | 0.151 | 34% | 0.863 | 0.854 | 1% |
| Cold-rolled steel | 0.104 | 0.148 | -30% | 0.130 | -20% | 0.547 | 0.643 | -15% |
| Galvanized steel | 0.006 | 0.008 | -30% | 0.012 | -52% | 0.038 | 0.053 | -29% |
| Pre-painted steel | 0.001 | 0.001 | -24% | 0.001 | 68% | 0.003 | 0.004 | -31% |
| Non-grain-oriented steel | 0.050 | 0.047 | 6% | 0.033 | 50% | 0.192 | 0.182 | 5% |
| Grain-oriented steel | 0.064 | 0.052 | 25% | 0.054 | 19% | 0.231 | 0.231 | 0% |
| Total sales | 3.172 | 3.281 | -3% | 3.226 | -2% | 13.355 | 12.460 | 7% |
Appendix 4. NLMK Russia Long Products sales by product
| Sales, m t | Q4 2020 | Q3 2020 | qoq | Q4 2019 | yoy | 2020 | 2019 | yoy |
| Billet | 0.095 | 0.086 | 12% | 0.001 | > 100% | 0.327 | 0.311 | 5% |
| Rebar | 0.477 | 0.579 | -18% | 0.517 | -8% | 1.814 | 1.935 | -6% |
| Sections | 0.000 | 0.013 | -98% | 0.019 | -99% | 0.053 | 0.053 | -1% |
| Wire rod | 0.045 | 0.051 | -11% | 0.061 | -25% | 0.197 | 0.271 | -27% |
| Metalware | 0.065 | 0.074 | -13% | 0.077 | -16% | 0.256 | 0.280 | -8% |
| Total steel products | 0.682 | 0.802 | -15% | 0.674 | 1% | 2.647 | 2.850 | -7% |
| Ferrous and non-ferrous scrap, incl. | 1.380 | 1.383 | 0% | 0.892 | 55% | 4.579 | 4.280 | 7% |
| to NLMK Ural | 0.482 | 0.465 | 4% | 0.358 | 35% | 1.687 | 1.769 | -5% |
| to NLMK Kaluga | 0.412 | 0.392 | 5% | 0.186 | > 100% | 1.241 | 1.112 | 12% |
| to NLMK Lipetsk | 0.467 | 0.505 | -8% | 0.325 | 44% | 1.571 | 1.318 | 19% |
Appendix 5. Mining Division sales
| Sales, m t | Q4 2020 | Q3 2020 | qoq | Q4 2019 | yoy | 2020 | 2019 | yoy |
| Iron ore concentrate | 2.879 | 2.346 | 23% | 2.544 | 13% | 10.732 | 10.443 | 3% |
| incl. to NLMK Lipetsk | 2.749 | 2.203 | 25% | 2.494 | 10% | 9.933 | 9.918 | 0% |
| Sinter ore | 0.253 | 0.247 | 2% | 0.251 | 1% | 1.004 | 1.014 | -1% |
| incl. to NLMK Lipetsk | 0.244 | 0.232 | 5% | 0.251 | -3% | 0.981 | 1.014 | -3% |
| Pellets | 1.687 | 1.519 | 11% | 1.766 | -4% | 6.679 | 6.989 | -4% |
| incl. to NLMK Lipetsk | 1.687 | 1.519 | 11% | 1.695 | 0% | 6.679 | 6.918 | -3% |
| Total iron ore | 4.819 | 4.112 | 17% | 4.560 | 6% | 18.415 | 18.446 | 0% |
Appendix 6. NLMK USA sales
| Sales, m t | Q4 2020 | Q3 2020 | qoq | Q4 2019 | yoy | 2020 | 2019 | yoy |
| Hot-rolled steel | 0.251 | 0.207 | 21% | 0.243 | 3% | 0.878 | 1.176 | -25% |
| Cold-rolled steel | 0.050 | 0.069 | -27% | 0.109 | -54% | 0.313 | 0.454 | -31% |
| Galvanized steel | 0.069 | 0.086 | -20% | 0.118 | -41% | 0.408 | 0.567 | -28% |
| Total NLMK USA 7 | 0.370 | 0.366 | 1% | 0.472 | -22% | 1.604 | 2.205 | -27% |
7 NLMK USA also sells non-significant volumes of merchant slabs not included into total rolled steel sales.
Appendix 7. NLMK DanSteel sales
| Sales, m t | Q4 2020 | Q3 2020 | qoq | Q4 2019 | yoy | 2020 | 2019 | yoy |
| Thick plates | 0.142 | 0.097 | 47% | 0.128 | 11% | 0.524 | 0.529 | -1% |
Appendix 8. NBH (associated companies) sales
| Sales, m t | Q4 2020 | Q3 2020 | qoq | Q4 2019 | yoy | 2020 | 2019 | yoy |
| Hot-rolled steel | 0.334 | 0.251 | 33% | 0.298 | 12% | 1.211 | 1.258 | -4% |
| Cold-rolled steel | 0.010 | 0.005 | 91% | 0.010 | 4% | 0.031 | 0.040 | -22% |
| Coated steel | 0.065 | 0.074 | -11% | 0.079 | -18% | 0.270 | 0.312 | -14% |
| Total flat steel | 0.409 | 0.330 | 24% | 0.387 | 6% | 1.511 | 1.610 | -6% |
| Semi-finished (ingots) | 0.013 | 0.011 | 20% | 0.011 | 22% | 0.053 | 0.056 | -5% |
| Thick plates | 0.127 | 0.120 | 5% | 0.120 | 6% | 0.518 | 0.519 | 0% |
| Total steel products | 0.549 | 0.461 | 19% | 0.518 | 6% | 2.083 | 2.185 | -5% |
Appendix 9. NLMK Group steel output
| Output, m t | Q4 2020 | Q3 2020 | qoq | Q4 2019 | yoy | 2020 | 2019 | yoy |
| NLMK Lipetsk | 2.970 | 2.864 | 4% | 2.977 | 0% | 12.304 | 12.012 | 2% |
| NLMK Long Products | 0.708 | 0.786 | -10% | 0.603 | 17% | 2.763 | 2.817 | -2% |
| incl. NLMK Kaluga | 0.349 | 0.361 | -3% | 0.215 | 62% | 1.238 | 1.096 | 13% |
| NLMK Indiana (NLMK USA) | 0.185 | 0.173 | 7% | 0.169 | 9% | 0.599 | 0.702 | -15% |
| NLMK Group (without NBH) | 3.863 | 3.824 | 1% | 3.749 | 3% | 15.667 | 15.531 | 1% |
| for reference |
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| NBH, NLMK Europe (EAF) | 0.041 | 0.040 | 2% | 0.028 | 45% | 0.166 | 0.165 | 1% |
| NLMK Group (with NBH) | 3.904 | 3.864 | 1% | 3.778 | 3% | 15.833 | 15.696 | 1% |
Appendix 10. NLMK Group steel product output (without NBH)
| Production, m t | Q4 2020 | Q3 2020 | qoq | Q4 2019 | yoy | 2020 | 2019 | yoy |
| Merchant pig iron | 0.316 | 0.389 | -19% | 0.254 | 24% | 1.468 | 0.522 | > 100% |
| Merchant slabs | 1.164 | 1.057 | 10% | 1.066 | 9% | 5.000 | 4.721 | 6% |
| Flat steel | 2.024 | 1.957 | 3% | 2.058 | -2% | 8.200 | 8.387 | -2% |
| Merchant billets | 0.124 | 0.110 | 13% | 0.021 | > 100% | 0.370 | 0.249 | 49% |
| Long products | 0.506 | 0.581 | -13% | 0.514 | -1% | 2.067 | 2.204 | -6% |
| Metalware | 0.064 | 0.075 | -14% | 0.070 | -8% | 0.260 | 0.277 | -6% |
| Total products | 4.198 | 4.170 | 1% | 3.983 | 5% | 17.367 | 16.360 | 6% |
Appendix 11. NLMK Russia Flat Products steel product output
| Production, m t | Q4 2020 | Q3 2020 | qoq | Q4 2019 | yoy | 2020 | 2019 | yoy |
| Merchant pig iron | 0.316 | 0.389 | -19% | 0.254 | 24% | 1.468 | 0.522 | > 100% |
| Merchant slabs | 1.311 | 1.160 | 13% | 1.394 | -6% | 5.610 | 5.686 | -1% |
| Hot-rolled steel | 0.702 | 0.708 | -1% | 0.621 | 13% | 2.835 | 2.435 | 16% |
| Cold-rolled steel | 0.403 | 0.369 | 9% | 0.379 | 6% | 1.518 | 1.566 | -3% |
| Galvanized steel | 0.203 | 0.209 | -3% | 0.218 | -7% | 0.834 | 0.803 | 4% |
| Pre-painted steel | 0.077 | 0.106 | -27% | 0.107 | -27% | 0.404 | 0.419 | -4% |
| Non-grain-oriented steel | 0.062 | 0.065 | -3% | 0.057 | 9% | 0.255 | 0.249 | 2% |
| Grain-oriented steel | 0.072 | 0.066 | 9% | 0.065 | 10% | 0.271 | 0.266 | 2% |
| Total steel products | 3.145 | 3.071 | 2% | 3.095 | 2% | 13.195 | 11.947 | 10% |
Appendix 12. Output of main raw materials
| Output, m t | Q4 2020 | Q3 2020 | qoq | Q4 2019 | yoy | 2020 | 2019 | yoy |
| Coke (dry weight) | 1.397 | 1.415 | -1% | 1.397 | 0% | 5.698 | 5.502 | 4% |
| NLMK Lipetsk | 0.608 | 0.608 | 0% | 0.613 | -1% | 2.428 | 2.430 | 0% |
| Altai-Koks | 0.788 | 0.807 | -2% | 0.784 | 1% | 3.270 | 3.072 | 6% |
| Iron ore | 4.920 | 4.112 | 20% | 4.532 | 9% | 18.511 | 18.427 | 0% |
| Iron ore concentrate | 2.836 | 2.384 | 19% | 2.486 | 14% | 10.686 | 10.407 | 3% |
| Sinter ore | 0.252 | 0.257 | -2% | 0.263 | -4% | 1.024 | 1.013 | 1% |
| Pellets | 1.832 | 1.471 | 25% | 1.783 | 3% | 6.801 | 7.007 | -3% |
| Scrap | 0.678 | 0.660 | 3% | 0.438 | 55% | 2.221 | 2.165 | 3% |
Appendix 13. NLMK Group steel product sales (without NBH)
| Sales, m t | Q4 2020 | Q3 2020 | qoq | Q4 2019 | yoy | 2020 | 2019 | yoy |
| Semi-finished | 1.616 | 1.690 | -4% | 1.425 | 13% | 6.985 | 6.013 | 16% |
| Pig iron | 0.437 | 0.389 | 12% | 0.253 | 73% | 1.485 | 0.510 | > 100% |
| Slabs | 1.083 | 1.215 | -11% | 1.172 | -8% | 5.173 | 5.191 | 0% |
| Billets | 0.096 | 0.086 | 12% | 0.001 | > 100% | 0.327 | 0.311 | 5% |
| Flat steel | 2.018 | 2.037 | -1% | 2.074 | -3% | 8.215 | 8.517 | -4% |
| Plate | 0.145 | 0.097 | 51% | 0.128 | 13% | 0.528 | 0.529 | 0% |
| Hot-rolled steel | 0.947 | 0.887 | 7% | 0.912 | 4% | 3.659 | 3.681 | -1% |
| Cold-rolled steel | 0.424 | 0.480 | -12% | 0.473 | -10% | 1.837 | 2.013 | -9% |
| Galvanized steel | 0.273 | 0.315 | -13% | 0.331 | -18% | 1.241 | 1.347 | -8% |
| Pre-painted steel | 0.082 | 0.129 | -36% | 0.113 | -27% | 0.405 | 0.419 | -3% |
| Grain-oriented steel | 0.078 | 0.064 | 23% | 0.066 | 18% | 0.277 | 0.274 | 1% |
| Non-grain-oriented steel | 0.068 | 0.066 | 3% | 0.050 | 36% | 0.268 | 0.253 | 6% |
| Long products | 0.587 | 0.716 | -18% | 0.674 | -13% | 2.320 | 2.539 | -9% |
| Long | 0.522 | 0.642 | -19% | 0.596 | -12% | 2.064 | 2.259 | -9% |
| Metalware | 0.065 | 0.074 | -13% | 0.077 | -16% | 0.256 | 0.280 | -8% |
| Total steel products | 4.220 | 4.443 | -5% | 4.172 | 1% | 17.520 | 17.069 | 3% |
Appendix 14. NLMK Group home and export steel product sales (with NBH)
| Sales, m t | Q4 2020 | Q3 2020 | qoq | Q4 2019 | yoy | 2020 | 2019 | yoy |
| Home markets | 2.576 | 2.770 | -7% | 2.877 | -10% | 10.692 | 11.376 | -6% |
| Russia | 1.604 | 1.851 | -13% | 1.804 | -11% | 6.669 | 6.640 | 0% |
| USA | 0.370 | 0.366 | 1% | 0.472 | -22% | 1.604 | 2.205 | -27% |
| EU | 0.601 | 0.552 | 9% | 0.601 | 0% | 2.419 | 2.530 | -4% |
| Export markets | 1.566 | 1.827 | -14% | 1.289 | 21% | 6.769 | 5.773 | 17% |
| Total steel product sales | 4.142 | 4.596 | -10% | 4.166 | -1% | 17.461 | 17.149 | 2% |
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