MMK Metalurji, the
Turkey-based subsidiary of Russian steel giant Magnitogorsk Iron and Steel Works (
MMK), has halted
crude steel production until December 1, 2012, due to higher raw material costs and shrinking demand, according to information received by SteelOrbis.
The steelmaker has been registering low
production tonnages for a while now. Apart from the temporary
production halt, it is also heard that 500 workers have been given unpaid leave until November 30.
As SteelOrbis previously reported,
MMK Metalurji announced a 40 percent fall year on year in its
crude steel production for the third quarter.