Russian steelmaker Magnitogorsk Iron and Steel Works' (
MMK)
scrap consumption increased 23.6 percent year on year in the first four months of 2006.
The increase in
scrap consumption by
MMK can be explained by the increase in the
production at the enterprise in 2006.
In addition, the structure of the
scrap supplies to
MMK had been changed. Thus, in 2005
MMK purchased more than 92 percent of needed
scrap in the domestic market, whereas in 2006 the amount of
scrap purchased by
MMK from the domestic market has fallen to 80 percent. Meanwhile, the volume of
scrap imported by
MMK has increased 6 times from 2005.