NLMK: Western sanctions have impact on steel demand in Russia

The demand for the products of the Novolipetsk Iron-and-Steel works is down. One of the key reasons is western sanctions, TASS reports citing the chairman of the Board of Directors of NLMK, V.Lisin.

“It is well known that the sanctions influenced the financial markets, first of all. External funding has almost disappeared, while the domestic alternatives are more expensive. So, our consumer has problems not only with long-term financing of metal products supply, but also problems, connected with their working capital. There is drop in the domestic market, both fall of prices and sales volume,” V.Lisin said.