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 2.57 million mt, increasing by 8.6 percent quarter on quarter due to the completion of the overhaul of basic oxygen furnace no. 2. MMK’s crude steel output fell by 13.4 percent year on year due to the weaker domestic business activity in Russia amid high interest rates, and the unfavorable market conditions in Turkey.
The company’s pig iron production in the first quarter went up by 2.5 percent compared to the previous quarter totaling 2.18 million mt, while pig iron production decreased by 6.9 compared to the same period of 2024, reflecting the increased number of major repairs on its blast furnaces.
In the given quarter, MMK’s steel sales totaled 2.43 million mt, up by 2.8 percent compared to the previous quarter, amid the growth in sales of hot rolled products, and moved down by 11.1 percent year on year against the backdrop of macroeconomic factors and major repairs. In addition, the company’s premium product sales came to 1.01 million mt, down by 6.0 percent quarter on quarter and by 3.7 percent year on year, mainly due to a decrease in the production of cold rolled and coated products amid weaker demand from the construction industry.