MMK and TMK strengthen cooperation

Russian steel producer Magnitogorsk Iron and Steel Works (MMK) has announced that at a meeting with Russian pipe producer TMK, the two companies signed an agreement on the pricing of rolled steel for the period between 2016 and 2018. During the meeting, the parties also discussed various technical and commercial issues linked to their current and future partnership. In particular, they discussed possible new products, including those to be used within the implementation of major gas pipeline and infrastructure projects, such as Nord Stream 2. With this new agreement, MMK and TMK aim to gradually develop their partnership, mitigate risks, improve pricing transparency and plan operations more efficiently.

 

According to MMK’s statement, in 2015 its overall flat product shipments to TMK’s facilities totaled 744,000 mt, while MMK’s share in TMK’s supply structure amounted to 58.9 percent.