• Steel Market Insider

    We strive to let you one step ahead of the market

Steel News
Advanced search
    Key words
  • Search By
  • Date
  • Classification
  • Region
Advanced search

Russian MMK continues to reduce output for next Q1

  • A
  • A
  • A
It’s reported that Russian Magnitogorsk Iron and Steel (MMK), operates the 80% of production capacity currently will continue this pace for the next Q1.

It’s known that MMK reduced its output in this Q4 in response to the seasonal demand.

However, the firm stated that it will remain the production capacity of its Turkish subsidiary MMK Metallurji at 100% once it’s completed. The Turkish subsidiary is expected to have 2.3 million tons of production annually from the beginning of next year.

Meanwhile, MMK produced 2.95 million tons of finished steel in the Q3, surged by 10% quarter on quarter.

Besides, the company’s sales revenue in the first nine months of this year generated US$7 billion, soared by 22% year on year; while, its operating profits dropped by 6% to US$1.13 billion.
News Date 06 Dec 2011 16:58:12 reported by Margaret Yeh

India will soon become world's second largest stee...
Industry activities
08 Dec 2016 13:56
Indonesia’s Antam to invest nickel smelting plant ...
Industry activities
08 Dec 2016 10:52
Chile’s Los Bronces copper mine temporarily to shu...
Industry activities
07 Dec 2016 13:29
Tata to develop new ferrochrome plant in Odisha...
Industry activities
06 Dec 2016 13:46
Posco to adjust domestic and overseas steel proces...
Industry activities
06 Dec 2016 10:37
Most Popular