Russian steelmaker MMK Group has released its operational results for the third quarter and the first nine months this year.
Accordingly, in the third quarter this year, the company’s crude steel output totaled 3.45 million mt, decreasing by three percent quarter on quarter, amid short-term overhauls of rolling equipment at the Magnitogorsk production site, while its pig iron production increased by 1.7 percent compared to the previous quarter totaling 2.61 million mt. In the given quarter, MMK’s finished steel sales totaled 3.06 million mt, moving sideways compared to the previous quarter.
In the first nine months, the company’s crude steel output totaled 9.87 million mt, increasing by 11.4 percent year on year, reflecting the continued favorable conditions in the Russian market. MMK’s pig iron production in the given period increased by 13.2 percent year on year to 7.52 million mt, due to the reduced duration of blast furnace overhauls compared to the previous year. In the given period, the company’s finished steel sales totaled 8.89 million mt, up by 10.9 percent year on year, due to favorable conditions in Russia and neighboring markets amid robust construction activity and increased demand from the automotive and machine-building industries.
