Off The Wire
Russia's NLMK says 2017 crude steel output up 3 pct y/y
MOSCOW, Jan 17 (Reuters) - Russian steel producer NLMK said on Wednesday its crude steel output totalled 17.1 million tonnes in 2017, rising 3 percent from a year ago, supported by higher demand at home and abroad.
Production in the last three months of 2017 increased by 2 percent year-on-year to 4.32 million tonnes, but shrank 2 percent compared to the previous quarter due to seasonal changes in demand and planned maintenance, the company said.
The steel producer's chief executive, Oleg Bagrin, stepped down on Tuesday and shareholders are expected to elect a new president in March. (Writing by Polina Ivanova; Editing by Vladimir Soldatkin)