MMK increases scrap consumption

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.