Russian steelmaker Magnitogorsk Iron and Steel Works (MMK) has released its operational results for the third quarter and the first nine months of the current year.
Accordingly, in the third quarter, the company’s crude steel output remained almost stable at 3.18 million mt and it recorded a 4.7 percent decrease in its finished steel product output to 2.86 million mt, both compared to the previous quarter.
Meanwhile, in the first nine months, MMK's crude steel production amounted to 9.38 million mt, up 0.5 percent, while its finished steel product output remained stable at 8.5 million mt, both year on year.
According to MMK, in the current month of October it is seeing solid demand for its products both in domestic and export markets. However, the company anticipates lower sales closer to the end of this year due to the seasonal slowdown of business.