• 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

Hyundai Steel plans to add new steel capacity of 1...
Industry activities
24 Aug 2016 12:23
India Orissa plans to proceed three iron ore mines...
Industry activities
24 Aug 2016 11:06
US DOC plans to set up a new global steel trade mo...
Industry activities
23 Aug 2016 09:23
Tata and ThyssenKrupp steel to start setting up jo...
Industry activities
23 Aug 2016 09:22
Gerdau plans to shut down its Kentucky factory at ...
Industry activities
19 Aug 2016 11:10
Most Popular