Russian steel giant Magnitogorsk Iron and Steel Works (MMK) has announced that its Turkey-based subsidiary MMK Metalurji's finished steel output increased by 5.7 percent quarter on quarter to 213,000 mt in the second quarter of the current year, due to the seasonal recovery in demand for construction products and higher prices in the Turkish market. In the first half of the year, MMK Metalurji's finished steel output totaled 415,000 mt, up 8.1 percent compared to the same period of the previous year.
In the second quarter, the hot rolled flat product output of MMK Metalurji totaled 33,000 mt, rising by 1.9 percent, while its galvanized steel production amounted to 131,000 mt, up 17.7 percent thanks to the favorable situation in the galvanized steel market, both compared to the previous quarter. In the first half, the company’s hot rolled flat product output increased by 95.8 percent to 65,000 mt, while its galvanized steel production rose by 10.9 percent to 242,000 mt, both year on year.
According to MMK Metalurji, the volume of semi-finished rolled product supply from MMK to MMK Metalurji in the first half of the year was nearly unchanged year on year. Meanwhile, during the given period, the company maintained maximum capacity utilization rates due to the high volume of orders for its products.