MMK’s crude steel output up 2.5 percent in 2016

Thursday, 26 January 2017 13:50:02 (GMT+3)   |   Istanbul
       

Russian steelmaker Magnitogorsk Iron and Steel Works (MMK) has released its operational results for the fourth quarter and the full year of 2016.
 
Accordingly, in the fourth quarter, the company recorded a 0.7 percent decrease in its crude steel output to 3.15 million mt and a two percent increase in its finished steel product shipments to 2.92 million mt, both compared to the previous quarter. Overall steelmaking capacity utilization at the main Magnitogorsk site in the given quarter exceeded 89 percent.
 
Meanwhile, in 2016, MMK's crude steel production amounted to 12.54 million mt, up 2.5 percent, while the company’s finished steel product shipments decreased by 3.4 percent to 11.57 million mt, both year on year. Overall steelmaking capacity utilization at the main Magnitogorsk site in 2016 was 89 percent.
 
MMK stated that signs of improvement in a number of sectors suggest that domestic demand will start to recover and price premiums will be maintained in the current year. However, MMK anticipates that demand in the first quarter of this year will be under pressure from the usual seasonal factors.

Similar articles

Ukraine’s Zaporizhstal completes first stage of BF No. 3 overhaul

29 Mar | Steel News

Japanese crude steel output down 3.8 percent in February from January

27 Mar | Steel News

CISA mills’ daily steel output down 0.51 percent in mid-March

26 Mar | Steel News

German crude steel output increases by 4.6 percent in January-February

25 Mar | Steel News

World crude steel output up 3.7 percent in February

22 Mar | Steel News

Ukraine’s ArcelorMittal Kryvyi Rih posts lower pig iron output due to Russia’s attacks on energy infrastructure

21 Mar | Steel News

China’s crude steel output up 1.6% in Jan-Feb despite unexpectedly weak post-holiday demand

18 Mar | Steel News

CISA mills’ daily steel output down 3.38 percent in early March

14 Mar | Steel News

Ukraine’s pig iron output up 42.5 percent in January-February

12 Mar | Steel News

Ukraine’s Zaporizhstal increases its output in Jan-Feb

06 Mar | Steel News