During the first half of 2008 the Russian scrap collecting/processing company Profit increased its scrap deliveries to the Russian steelmaker Magnitogorsk Iron and Steel Works (MMK) by to 2.7 million mt, up 10.2 percent compared to the same period last year.
In the first nine months of 2008, Profit has already supplied MMK with 4.1 million mt of metal charge, whereas for the whole of 2007 the company supplied five million mt of metal charge to the same producer, i.e., up 33 percent on the 2006 volume.
In the current month of October Profit plans to deliver about 200,000 mt of metal charge to MMK.
Profit is one of the most important scrap suppliers in the Russian steel market, and includes 24 companies. Last year Profit acquired four more companies: Altay-based Vtormetresursy, and also Novosibirsk Vtorchermet, Profit-Nizhny Novgorod, and Tatmetlom - all three based in Tatarstan.
As regards the future, Profit plans to continue to expand its scrap base, while in the near future the company has scheduled maintenance works for its two scrap processing facilities.