Mr. Victor Rashnikov, chairman of the Russian steel producer Magnitogorsk Iron and Steel Works (MMK), has stated that in 2007 MMK will increase its steel product deliveries to the Russian domestic market by approximately one million metric tons.
The Russian domestic steel market demonstrates a steady yearly growth of 7-10 percent. "Here we are successfully positioned for the maximum use of this potential - i.e. close geographical proximity to the main users, long-term relations with the key clients," Mr. Rashnikov commented.
In 2006, the share of MMK's steel output in Russia's overall steel production reached 19 percent, while the mill's deliveries to the domestic market totaled six million metric tons, accounting for 54 percent of MMK's entire production for that year.