Russian steelmaker MMK Group has released its operational results for the fourth quarter and the full year of 2022.
Accordingly, in the fourth quarter last year, the company’s crude steel output totaled 2.83 million mt, increasing by 1.2 percent quarter on quarter, while its pig iron production increased by four percent compared to the previous quarter totaling 2.43 million mt, due to steady demand for metal products in the Russian market. In the given quarter, MMK’s finished steel sales totaled 2.68 million mt, down 3.2 percent compared to the previous quarter, mainly driven by a decrease in export sales.
In the full year, the company’s crude steel output totaled 11.68 million mt, decreasing by 14.0 percent year on year, driven by overhauls at blast furnaces and unfavorable conditions in export markets. MMK’s pig iron production in 2022 decreased by 12.9 percent year on year to 9.07 million mt, due to lengthy overhauls at blast furnace operations and deteriorating market conditions. In the given year, the company’s finished steel sales totaled 10.7 million mt, down by 14.2 percent year on year, due to the existing restrictions in export markets and a significant slowdown in business activity globally.
