In the fourth quarter of 2014, the crude steel production of Russian steelmaker MMK Group totaled 3.072 million mt, down 9.1 percent compared to the third quarter of the year, while its crude steel output in the whole of 2014 amounted to 13.031 million mt, up 9.1 percent year on year, as announced by the company.
MMK Group's finished steel product output in the fourth quarter totaled 2.914 million mt, down 6.9 percent quarter on quarter, while finished steel product output during the whole year amounted to 12.158 million mt, up 9.9 percent year on year.
MMK Group's high value-added (HVA) steel product output in the last quarter of 2014 decreased by 5.4 percent quarter on quarter to 1.344 million mt. The share of HVA production in MMK Group's total steel product output in the given quarter increased to 46.1 percent compared to 45.4 percent in the first quarter. MMK Group's HVA steel product output in 2014 increased by 2.7 percent year on year to 5.48 million mt.
In 2014, MMK's cast iron production increased by 7.2 percent to 10.28 million mt, its long steel product output increased by 0.7 percent to 1.827 million mt and its flat hot rolled product output increased by 16.3 percent to 5.403 million mt - all on year-on-year basis.
According to MMK, it is expected that domestic prices will continue to rise in the first quarter this year, to catch up with export prices.