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.