Russian steel giant Magnitogorsk Iron and Steel Works (MMK) has announced that its Turkey-based subsidiary MMK Metalurji's finished steel output increased by 8.1 percent quarter on quarter to 166,000 mt in the third quarter of the current year.
In the given quarter, the hot rolled flat product sales of MMK Metalurji totaled 46,000 mt, rising by 10.4 percent, while its galvanized steel sales amounted to 159,000 mt, down 5.1 percent, both compared to the previous quarter.
Meanwhile, in the January-September period of this year, MMK Metalurji's total finished steel sales amounted to 712,000 mt, rising by 14.2 percent year on year, mainly due to an increase in sales of galvanized steel, thanks to higher productivity of the production facilities, by 86,000 mt or 23 percent, which increased the sales profitability in the current environment.
The company stated that stabilization of the political situation in Turkey, high domestic demand and an increase in export sales mean higher sales expectations in 2017 as compared to 2016.