MMK Metalurji, Turkish subsidiary of Russian steelmaker Magnitogorsk Iron and Steel Works (MMK), has announced that operation at its EAF and hot rolling facilities in Iskenderun have been put on halt for a period of up to 90 days. In the meantime, the plant's cold rolling mill, galvanizing and color coating lines will remain operational at their current high capacity utilization levels.
The decision to put the EAF and hot rolling line on halt was made with due consideration of production efficiency in the current economic situation in Turkey characterized by high raw material (metal scrap) costs and growing energy prices while HRC prices are down.
Under the given circumstances, the measure in question will allow the company to increase the economic efficiency of the Turkish plant and to help achieve positive profitability of the plant.