MMK sees improved crude steel output in Q1

Thursday, 26 April 2012 11:18:15 (GMT+3)   |  
       

In the first quarter of 2012, the crude steel production of Russian steelmaker Magnitogorsk Iron and Steel Works (MMK) totaled 3.41 million mt, up 11 percent compared to the corresponding quarter of the previous year.

During the given quarter, MMK's pig iron production increased slightly to 2.47 million mt, its long product output increased by 20 percent to 401,000 mt and its flat rolled product output decreased by one percent to 1.38 million mt - all on year-on-year basis.

According to the MMK statement, in the second quarter this year, due to growth of the Russian economy in 2012 and a seasonal increase in domestic demand for steel, MMK expects its sales of finished steel products to increase on a quarterly basis. The company expects further growth in production volumes and sales at its facilities in Turkey.


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