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19 October 2011

Comment on market speculation

NLMK (LSE: NLMK) wants to inform that the information circulated in the media related to the decline in the production of one type of the product is a result to the 12 days scheduled maintenance works of the production line at Lipetsk operations (main production site of NLMK) and by no means is related to the company’s inability to sell in the export markets as it was misinterpreted by Bloomberg citing Uralsib Capital, a local Russian bank.

On top of that, following the publication of the trading update for the third quarter of this year, NLMK plans to increase its Q4 2011 output by at least 10%.