MMK boosts domestic sales in 2006

The Russian steelmaker Magnitogorsk Iron and Steel Works has stated that in 2006 its domestic sales increased by 17 percent (or by 900,000 metric tons) year on year to more than six million metric tons of finished steel products. Furthermore, the company's share in the Russian domestic steel products market increased to 20 percent during the same period. MMK was able to increase its production and, consequently, domestic sales due to the implementation in 2006 of its new projects aimed at increasing productivity. In particular, MMK inaugurated two new electric arc furnaces and a mill-170 for longs production during the year in question. These projects allowed the company to increase its crude steel production by more than one million metric tons and its longs output by 600,000 metric tons in 2006 compared to the 2005 results. Consequently MMK increased its long products sales in the domestic market by more than 50 percent. Meanwhile, the company's flats domestic sales saw an increase of 13 percent in 2006.