Crude steel output may miss forecast

Russia's Novolipetsk Steel (NLMK) said its crude steel output may fall below forecast this year as it plans to reschedule maintenance to the fourth quarter as demand for its products slows.

Novolipetsk, Russia's fourth-largest steel maker, said in a statement full-year revenues were likely to increase to €9.2 billion and earnings before interest, taxation, depreciation and amortisation would rise to €3.7 billion.

Novolipetskiy metallurgicheskiy kombinat OAO is a Russia-based vertically integrated iron and steel producer.

The company's principal activity is the production and sale of ferrous metals, primarily consisting of pig iron, steel slabs, hot rolled steel, cold rolled steel, galvanised cold rolled sheet, cold rolled sheet with polymeric coatings and electrotechnical steel.

It sells its products on the domestic market and exports them to 65 countries across Europe, America, Asia, Africa and the Middle East. It also operates in the mining and coke-chemical segments and has relatively insignificant interests in coal mining and refinement, as well as in the financial and seaport operating segments.

In addition, it has 21 subsidiaries and two dependent companies. The Company is headquartered in Lipetsk, Russian Federation.