Make Kitco Your Homepage

Russia's NLMK says 2017 crude steel output up 3 pct y/y

Kitco News

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)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.