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Russian MMK posts 11% output increase for Q1
Russia’s third-largest steelmaker by output Magnitogorsk Iron & Steel Works (MMK)’s Q1 crude steel output reached 3.42 million tons, increasing by 10% from a quarter earlier and rising by 11% year on year.

In the Q1, the company’s output of coking coal concentrate decreased by 12% and the consumption of own iron ore was 1.05 million tons, down by 9%, both compared to that in a quarter ago.

MMK expected to increase the sales of finished products in the Q2, driven by good performance of Russian economy and seasonal steel demand.


News Date 4/27/2012 8:56:59 AM reported by Brian Lu
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