Page 134 - RusRPTNov22

Meanwhile, September output dropped by 14.4% in annual terms to 1.7mn tonnes (down by 6.5% month-on-month). The output of potash fertilizers fell by 45.7% last month in annual terms to 0.5mn tonnes (down by 19% compared with August), and by 29% in January-September to 5.7mn tonnes.
The production of phosphate fertilizers rose by 2.5% in September y/y to 0.3mn tonnes (down by 7% month-on-month), and by 1.2% in January-September to 3.3mn tonnes.
Russia produced 1mn tonnes of nitrogen fertilizers in September (up by 8.8% y/y, and by 0.7% month-on-month). In nine months of 2020 8.8mn tonnes of nitrogen fertilizers were produced, an increase of 4.2% compared with January-September 2021.
Ammonia production decreased by 16.9% in January-September and amounted to 12.7mn tonnes.
9.2.14 Mines and Minerals - other
NLMK released mixed 3Q22 Trading Update. Steel sales jumped q/q and y/y thanks to recovery in the Russian assets’ performance, however, foreign business experienced the consequences of global uncertainty.
● Total steel output declined 11% q/q, but rose up 1% y/y to 3.9mt amid low production at NLMK Lipetsk caused by sluggish demand in Europe and sanctions restrictions
● Net steel sales rose by 8% q/q and 5% y/y to 4.3mt amid bounce in domestic and Turkish steel demand
● Russian segment sales (incl. intergroup sales) rose by 6% q/q and 10% y/y to 4.1mt
● Sales across foreign assets (NLMK USA, NLMK DanSteel) declined by 11% q/q and 34% y/y to 470kt
● Iron ore sales declined by 5% q/q and 7% y/y to 4.5mt driven by low demand at NLMK Lipetsk
Norilsk Nickel released 3Q22 Operating Results. The miner demonstrated stable results q/q and y/y, despite some challenges amid geopolitics. It also confirmed 2022 production guidance.
● Nickel production rose by 22% q/q and 17% y/y to 59kt driven by an increase in production at Kola MMC and on low base in the previous quarter
● Copper output went up by 1% q/q to 113kt (-2% y/y)
● Platinum output increased by 8% q/q and 18% y/y to 171koz
● Palladium production was flat q/q at 712koz (+19% y/y)
● The company continues to seek new suppliers of high-performance
mining equipment and plans to test equipment supplied by the
134 RUSSIA Country Report November 2022 www.intellinews.com