Russian steelmaker MMK Group has released its operational results for the first quarter this year.
Accordingly, in the first quarter, the company’s crude steel output totaled 3.06 million mt, increasing by 8.1 percent quarter on quarter, reflecting higher demand in the markets of Russia and neighboring countries in the given period. MMK’s crude steel output fell by 3.5 percent year on year due to the suspension of steel production facilities at its Turkish division in November 2022.
The company’s pig iron production in the first quarter decreased by 3.4 percent compared to the previous quarter totaling 2.43 million mt, due to overhauls of blast furnace facilities, while pig iron production increased by 4.4 percent year on year.
In the given quarter, MMK’s finished steel sales totaled 2.76 million mt, up 2.8 percent compared to the previous quarter, amid favorable market conditions, and down by 4.3 percent year on year following the shutdown of hot rolled coil production at the Turkish division and export restrictions.