Russian steel giant Magnitogorsk Iron and Steel Works (MMK) has announced that in the second quarter this year the sales revenues of its Turkey-based subsidiary MMK Metalurji increased by 9.4 percent quarter on quarter to $152 million, due to a significant increase in sales volume during the quarter amid the seasonal recovery of construction sector demand.
In the given quarter, MMK Metalurji registered an EBITDA of $14 million, up 250 percent compared to the previous quarter, reflecting the recovery of the market following a sharp price decline in the first quarter of the current year and the recovery of equilibrium between prices of raw materials and finished products.