Russian MMK’s crude steel output increases in H1 2019 y-o-y
23 Jul 2019 13:07 reported by Joy Liu
According to the operating performance for the first half of 2019 released by Magnitogorsk Iron and Steel Works (MMK), one of the world's largest steel producers in Russia, the firm’s output of crude steel reached around 6 million tons, up by 0.4% compared to the same period a year ago; the output of pig iron has a year-on-year increase of 3.6% to 4.9 million tons roughly.
Besides, during the same period, MMK’s output of finished steel came to around 5.5 million tons, down by 2.3% year on year. The domestic shipments totaled 4.9 million tons roughly, rising by 8.5% year on year; the exports were approximately 580,000 tons, a year-on-year decline of 47.2%.
MMK expected that the demand for steel in the domestic market will remain strong in the third quarter. Also, the firm’s sales volume will benefit greatly by the completion of the reconstruction of the hot rolling mill 2500 at its plant in Magnitogorsk.
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