MMK Metalurji, one of the key coated steel producers in Turkey and a part of Russia-headquartered MMK Group, managed to significantly improve its export results last year. However, the overall sales volumes of the company indicated a slight decrease amid the weaker local market.
In 2019, MMK Metalurji sold 700,000 mt of coated steel, down 3.4 percent year on year, according to the official statement. In particular, the sales of hot dip galvanized coils totalled 556,000 mt, while sales of pre-painted coils amounted to 144,000 mt, SteelOrbis has learned. Weaker results were mainly attributed to the significant slowdown of local sales, taking into account the insufficient performance of Turkey’s consuming industries. The producer sold 156,000 mt of coated steel in the fourth quarter of the year, down 15.8 percent compared to the 2018 results.
However, in its report, the company underlines that in 2019 MMK Metalurji managed to expand its export presence by some 33 percent. In particular, the producer increased cooperation with buyers from the EU, which is one of the main sales destinations for Turkish flat steel. In addition, sales to the Middle East also increased, with MMK Metalurji active in sales to Iraq specifically, SteelOrbis understands.