In the third quarter of the current year, the crude steel production of Russian steelmaker Magnitogorsk Iron and Steel Works (MMK) totaled 3.18 million mt, up 13 percent compared to the previous quarter. In addition, in the first nine months of the year, MMK registered a five percent increase year on year in its crude steel output to 9.08 million mt.
During the quarter in question, MMK's pig iron production rose by six percent to 2.44 million mt, its long product output increased by 53 percent to 479,000 mt and its flat rolled product output increased by nine percent to 1.5 million mt - all on quarter-on-quarter basis.
According to the MMK statement, its Turkish plant ММK-Metalurji, renamed from MMK-Atakas after acquisition of 50 percent minus one share from the Atakas family, plans to produce around 700,000 mt of steel products in 2011. The whole complex is expected to reach full production capacity of 2.3 million mt per year of finished steel products by 2012.
In 2011, MMK aims to increase finished steel output by 10-15 percent year-on-year. This growth will be due to the increasing demand for MMK products from major steel-consuming industries in Russia and also due to MMK Metalürji reaching full production capacity.