Turkey-based MMK Metalurji increases finished steel sales in Q2

Russian steel giant Magnitogorsk Iron and Steel Works (MMK) has announced that its Turkey-based subsidiary MMK Metalurji registered a six percent quarter-on-quarter drop in its crude steel production in the second quarter of this year, with the output declining to 282,000 mt, while its crude steel output in the first six months of the current year amounted to 582,000 mt.
 
In the second quarter of this year, the cold rolled flat product output of MMK Metalurji totaled 125,000 mt, rising by 18 percent over the first quarter, while its galvanized steel production rose six percent quarter on quarter amid seasonal growth factors to 81,000 mt, while its color coated steel production amounted to 79,000 mt, up by 35 percent quarter on quarter, as a result of the seasonal resurgence of the construction industry.
 
In the first half of 2012, MMK Metalurji produced 157,000 mt of galvanized steel, three times more than its output in H2 2011, while it quadrupled its color coated steel production as compared to the same period of 2011 to 137,000 mt.
 
MMK has said that its finished product sales from its operations in Turkey in the second quarter amounted to 284,000 mt, which is up by 12 percent from the first quarter. The higher level of finished products sold compared to the crude steel produced is a result of the processing of hot rolled flat products supplied by MMK Group's operations in Russia.