Russia-based Ural Mining and Metallurgical Company (UMMC) has announced that in 2010 its subsidiary Serov Steel Works plans to increase its output by 30 percent compared to 2009.
"If the current trends in the steel market are maintained, in 2010 we expect to produce 500,000 mt of rolled steel products. Thus, the increase in this year's output should reach 30 percent compared to 2009," Serov Steel Works director Alexey Shreider stated.
Accordingly, in November-December 2009 Serov Steel Works saw an 81 percent increase year on year in its production. However, in 2009 the company's total output was down 23 percent compared to 2008 and 30 percent compared to 2007.
Currently, Serov Steel Works has a full stock of orders for March and has also orders for early April.