The Russian steelmaker Magnitogorsk Iron and Steel Works (MMK) has announced that in Q3 2010 it expects its steel output volumes to be at about Q2 2010 levels, i.e., at about 2.985 million mt of crude steel and 2.623 million mt of finished steel products.
In addition, MMK said that it sees a recovery in steel volumes and prices from the summer months to September and in the fourth quarter, with a continuing solid demand from domestic pipe manufacturers, with improvements registered by automakers and producers of heavy machinery, and with some demand growth for construction steel starting from the second half of August.
In addition, a strong fourth quarter will be also favored by a better situation in the exports markets, caused by the limited production in China due to electricity cuts and the closure of old inefficient steelmaking plants.