The Russian steelmaker Magnitogorsk Iron and Steel Works (MMK) has announced that in Q3 this year MMK-Atakas, its Turkish joint venture steel project developed with the Turkey-based Atakas Group of Companies, increased its finished steel product output by 42.1 percent quarter on quarter to 54,000 mt, mainly due to the commissioning and ramp-up of new production facilities.
Meanwhile, the average price for MMK-Atakas' finished steel products in Q3 went down by 2.4 percent quarter on quarter to $774/mt because of market conditions.
Q3 2010 | Q2 2010 | Change | Jan-Sept 2010 | Jan-Sept 2009 | Change | |
Finished steel products, incl.: | 54,000 | 38,000 | 42.1% | 111,000 | 21,000 | 428.6% |
Flat hot-rolled products | 29,000 | 20,000 | 45.0% | 64,000 | 16,000 | 300.0% |
Flat cold-rolled products | 0 | 0.300 | n/a | 1,000 | 2,000 | -50.0% |
Galvanized steel | 12,000 | 8,000 | 50.0% | 21,000 | 3,000 | 600.0% |
Color-coated steel | 13,000 | 10,000 | 30.0% | 25,000 | - | n/a |
Average prices, USD | ||||||
Q3 2010 | Q2 2010 | Change | Jan-Sept 2010 | Jan-Sept 2009 | Change | |
Finished steel products, incl.: | 774 | 793 | -2.4% | 784 | 569 | 44.6% |
All the production facilities of MMK-Atakas in both Iskenderun and in Istanbul, which are expected to allow MMK to strengthen its footprint in the Middle East market, are planned to be commissioned by Q1 2011.