NEW YORK NLMK
USA said it expects average prices to increase some $25 per
tonne in the fourth quarter, a trend that could continue into
2014, due to stable demand and tight inventory levels.
"In the fourth
quarter, we are recording an insignificant increase in steel
prices in the United States due to stable demand from key
consumers and slightly lower levels of supply in the region,"
Russias NLMK Group, the parent company of the Portage,
Ind.-based steelmaker, said in its third-quarter earnings
release Nov. 8.
"We are seeing an
average increase in prices of $25 per tonne compared with (the
end of the third quarter), and this upward pricing trend could
extend to the end of the year," NLMK added.
The announcement came
a day after competitors Severstal North America Inc. and AK
Steel Corp. raised sheet prices, effectively moving up some $20
to $30 per ton (
amm.com, Nov. 7).
While the parent
company saw a 3.9-percent dip in global revenue to $2.72
billion for the third quarter vs. the previous three months,
North America revenue gained 17 percent to $378 million in the
same comparison, the only region aside from Russia to chart a
revenue increase. NLMK USA also saw a 5-percent increase in
sales on shipments of 450,000 tonnes, due to "significant
improvements in pricing in the U.S."