Russian steel giant Magnitogorsk Iron and Steel Works (MMK) has announced that its Turkey-based subsidiary MMK Metalurji's finished steel output decreased by 2.3 percent quarter on quarter to 208,000 mt in the third quarter of the current year, due to a slowdown of business activity during Ramadan and the Feast of Sacrifice holiday. In the first nine months of the year, MMK Metalurji's finished steel output totaled 624,000 mt, up 7.1 percent compared to the same period of the previous year.
In the third quarter, the hot rolled flat product output of MMK Metalurji totaled 31,000 mt, falling by 5.4 percent, while its galvanized steel production amounted to 130,000 mt, down 0.3 percent, both compared to the previous quarter. In the January-September period of the current year, the company’s hot rolled flat product output increased by 78.3 percent to 96,000 mt, while its galvanized steel production rose by 12.8 percent to 372,000 mt, both year on year.
According to MMK Metalurji, efficient capacity utilization and product mix enabled the company to increase its sales volumes in the first nine months of the year by 7.1 percent compared to the same period of 2015. Meanwhile, in the January-September period, the volume of semi-finished rolled product supply from MMK to MMK Metalurji decreased by 4.3 percent year on year to 460,000 mt.