MMK’s Q2 crude steel output rises by nine percent over Q1
The Russian steelmaker Magnitogorsk Iron and Steel Works (MMK) has announced that in Q2 this year it increased its crude steel production by nine percent quarter on quarter to 2.985 million mt and raised its finished product output by seven percent quarter on quarter to 2.623 million mt.
Q2 2010 (mt) | Q1 20 10 (mt) | Change (%) | |
Cast iron | 2,320,000 | 2,236,000 | +4 % |
Crude steel | 2,985,000 | 2,732,000 | +9 % |
Finished product output: | 2,623,000 | 2,453,000 | +7 % |
Slabs and billets | 115,000 | 0 | - |
Long products | 203,000 | 210,000 | -3 % |
Flat hot-rolled products | 1,397,000 | 1,509,000 | -7 % |
High value-added (HVA) products: | 908,000 | 734,000 | +24 % |
Thick plate | 228,000 | 176,000 | +29 % |
Flat cold-rolled products | 306,000 | 251,000 | +22 % |
Downstream products: | 374,000 | 307,000 | +22 % |
Tin plate | 66,000 | 59,000 | +12 % |
Galvanized steel | 157,000 | 120,000 | +30 % |
Galvanized color-coated steel | 52,000 | 38,000 | +37 % |
Strip | 34,000 | 26,000 | +29 % |
Formed section | 48,000 | 49,000 | -2% |
Pipes | 16,000 | 14,000 | +12% |
Although the share of MMK's domestic sales of its total sales in Q2 2010 remained almost the same, its shipments to the prioritized domestic market, offering premium prices, have been increasing faster than export sales. Thus, MMK's Q2 domestic sales grew by 148,000 mt, while its export sales increased by 21,000 mt, i.e., 9.5 percent and 2.3 percent higher quarter on quarter respectively.
MMK has also said that its domestic and export prices kept on growing in Q2 2010, with the average price for one metric ton of steel products increasing by 17 percent.
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