MOSCOW, October 16 (RIA Novosti) -- Novolipetsk Steel (NKMK) said on Friday crude steel production was up 11% in the third quarter, quarter-on-quarter, to 2.9 million tons.

It said finished products were at 2.8 million tons, up 10% quarter-on-quarter.

The company said sales in the reporting period were up: finished products, 3.1 million tons (+37% quarter-on-quarter), including slabs: 1 million tons (+28% quarter-on-quarter), flat products: 1.4 million tons (+29% quarter-on-quarter), billets: 0.06 million tons (+6% quarter-on-quarter).

"We believe that NLMK's financial performance in Q3 2009 will demonstrate significant sequential improvement. According to our preliminary estimates, the Q3 2009 sales revenue will be up 20% quarter-on-quarter. The Q3 2009 EBITDA margin is expected to reach 20-25%," the company said in press release.

In its outlook for the next quarter it said, "We are not expecting a significant decline in production volumes or sales revenue despite a softer pricing environment."