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NLMK will spend the bulk of a $1.6 billion investment package on ramping up iron ore output, and said that self-sufficiency in iron ore is a top priority.
This prompted market participants to ask if NLMK is looking to become more of a miner than a steel manufacturer.
Responding to a shift that has seen profitability in steel move towards mining and away from low-grade finished steel products, NLMK is also putting more of a focus on value-added steel products.
The company aims to increase the proportion of value-added steel products in total sales from 35% to 40% by 2017.
In this video, Steel First’s Lisa Barrington and Michelle Madsen outline what is driving NLMK’s strategy 2017.
Russian steel major Novolipetsk Steel (NLMK) will focus more on mining and value-added steel products, it announced in its long-awaited "Strategy 2017" earlier this month.