Russian steel producer Magnitogorsk Iron and Steel Works (MMK) has stated that for the full current year it expects to increase shipments of rolled metal by 7-8 percent year on year to 11.8-11.9 million mt.
In the fourth quarter this year, MMK expects a seasonal decrease in sales volumes of the commercial products in the domestic market. This effect will be partially offset by the lower prices for iron ore raw materials and cost reductions of the company, the company said.
In the January-September period of the current year, MMK shipped around 8.87 million mt of finished steel products, up 10 percent year on year. 7.25 million mt of shipments went to the domestic and CIS market, up 5.8 percent, while export shipments totaled 0.486 million mt, decreasing by 10.8 percent, both year on year.