NEW YORK NLMK USAs sales volume and revenue improved in the fourth quarter due in part to stronger demand and higher pricing.
The Portage, Ind.-based company posted sales volume of 669,000 tonnes in the three months ended Dec. 31, up 30.4 percent from 513,000 tonnes in the previous quarter and 48.3 percent higher than 451,000 tonnes in the fourth quarter of 2012, Russian parent company NLMK Group said in its fourth-quarter earnings report.
Sales by NLMKs North American division surpassed those of its European Union counterpart in the fourth quarter, with much of the upward momentum due to stable and upward pricing trends, the company said. In the (United States), prices remained stable on average throughout the year, with an upward trend recorded in (the second half).
The company said prices rose some 2 to 5 percent on average quarter on quarter, supported by improved demand.
The steelmakers revenue jumped 28.3 percent to $485 million in the fourth quarter from $378 million in the previous quarter, accounting for 19 percent of the Moscow-based companys total revenue.