Russian steelmaker MMK Group has released its operational results for the second quarter and the first half this year.
Accordingly, in the second quarter this year, the company’s crude steel output totaled 3.46 million mt, increasing by 13.0 percent quarter on quarter, reflecting steady demand in markets in Russia and neighboring countries as well as the partial recovery of business activity in Turkey in the given period, while its pig iron production increased by 9.6 percent compared to the previous quarter totaling 2.57 million mt, due to the completion of overhauls of blast furnaces. In the given quarter, MMK’s finished steel sales totaled 3.06 million mt, up by 11.0 percent compared to the previous quarter.
In the first half, the company’s crude steel output totaled 6.51 million mt, increasing by 7.5 percent year on year, reflecting favorable conditions in the Russian market. Steel output at the Magnitogorsk facilities increased by 17.8 percent year on year to 6.38 million mt, while steel production at the Turkish asset decreased by 79.1 percent year on year to 135,000 mt, reflecting a decline in business activity in the country amid macroeconomic headwinds and the earthquake in February this year.
MMK’s pig iron production in the given period rose by 14.0 percent year on year to 4.91 million mt. In the given half, the company’s finished steel sales totaled 5.82 million mt, up by 11.1 percent year on year.