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NLMK USA logs slight sales bump

Keywords: Tags  steel, NLMK, Novolipetsk steel, flat-rolled steel

NEW YORK — NLMK USA posted a slight boost in revenue in the first quarter compared with the final three months of 2012, but the outlook for the second quarter looks somewhat grimmer as increased steel supply and lower scrap tags threaten to weigh down steel prices, parent company Novolipetsk Steel said.

Portage, Ind.-based NLMK USA posted revenue of $362 million for period of the year, up 1.4 percent from $357 million in the fourth quarter on sales that jumped 16.2 percent to 473,000 tonnes from 407,000 tonnes, the company said.

NLMK USA’s operations ran at an average capacity utilization rate of 88 percent in the first quarter, slightly lower than the parent company’s overall rate of about 94 percent.

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