Russian steelmaker MMK Group has released its operational results for the third quarter and the first nine months this year.
In the given quarter, the company’s crude steel output totaled 2.42 million mt, decreasing by 7.5 percent quarter on quarter, due to the slowdown in business activity in the Russian market, while its pig iron production dropped by 14.9 percent quarter on quarter to 2.02 million mt, mainly due to repairs at its blast furnace. In addition, MMK’s sales of steel products in the third quarter came to 2.47 million mt, remaining stable compared to the previous quarter, driven by a decrease in warehouse inventory.
In the first nine months, the company’s crude steel output amounted to 7.62 million mt, dropping by 13.7 percent year on year, primarily due to a slowdown in business activity in Russia amid high interest rates and unfavorable market conditions in Turkey, while its pig iron production went down by 10.6 percent year on year to 6.58 million mt, due to the major repairs at its blast furnaces. Additionally, MMK’s sales of steel products in the January-September period totaled 7.40 million mt, falling by 10.4 percent from the same period of 2024, due to unfavorable conditions in the Russian market amid macroeconomic factors.
