Lisin’s NLMK Overtakes Severstal in Steel Sales for First Time
OAO Novolipetsk Steel (NLMK), the Russian steelmaker controlled by billionaire Vladimir Lisin, sold more steel products than rival OAO Severstal (SVST) for the first time over a full year after adding capacity.
NLMK, as the manufacturer is known, sold 15.2 million metric tons of steel products last year, an increase of 18 percent, the Lipetsk-based company said in a statement today.
Severstal, run by billionaire Alexey Mordashov, yesterday posted a 1 percent drop in 2012 sales to 14.6 million tons. NLMK started the first new post-Soviet blast furnace in late 2011, increasing capacity in Russia by 35 percent to 12.4 million tons. NLMK’s sales growth was the fastest among its global peers after Hyundai Steel Co. (004020), Bloomberg Industries data show.
NLMK won market share in Russia from Severstal during 2012, Kirill Chuyko, a Moscow-based equity analyst at BCS Financial Group, said by telephone.
Evraz Plc (EVR) remains Russia’s largest steelmaker by output, producing 15.9 million tons last year, according to its Jan. 18 statement. Severstal is the second-biggest at 15.14 million tons, ahead of the the 14.9 million tons produced by NLMK. OAO Magnitogorsk Iron & Steel is due to report output this week.
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