Russian steelmaker MMK Group has released its operational results for the fourth quarter and the full year of 2024.
Accordingly, in the fourth quarter last year, the company’s crude steel output totaled 2.37 million mt, decreasing by 4.4 percent quarter on quarter, while its pig iron production went down by 9.9 percent compared to the previous quarter totaling 2.13 million mt, due to major repairs at three blast furnaces. In the given quarter, MMK’s finished steel sales totaled 2.36 million mt, down 4.7 percent compared to the previous quarter, reflecting the impact of the repair works, the slowdown in the Russian market, together with borrowing costs and seasonal factors.
In the full year, the company’s crude steel output totaled 11.19 million mt, decreasing by 13.8 percent year on year, driven by weaker demand for steel at the beginning of the year due to repairs in the rolling process. MMK’s pig iron production in 2024 decreased by 4.5 percent year on year to 9.49 million mt. In the given year, the company’s finished steel sales totaled 10.62 million mt, down by 9.8 percent year on year, due to the significant slowdown in business activity.
