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Russia steel maker MMK reported improvement in Q3

2017-10-18

Oct. 19, 2017 - MMK Group, a leading steel maker in Russia report its Q3 performance, showing a total crude steel output in Q3 2017 totaled 3,321 thousand tones, up 4.4% QoQ. Overall steelmaking capacity utilization at the main Magnitogorsk site (excluding planned maintenance) in Q3 2017 amounted to approximately 95%.

 

MMK Group’s total crude steel output in 9M 2017 totaled 9,569 thousand tones, up 1.9% YoY. Overall steelmaking capacity utilization at the main Magnitogorsk site (excluding planned maintenance) in 9M 2017 exceeded 93%.

 

High domestic demand in Q3 2017 contributes to an increased output and performance. The Company’s management expects a slight decline in Q4 2017 amid a seasonal slowdown of business on the Company’s key markets.

 

MMK is one of the world's largest steel producers and a leading Russian metals company. The company's operations in Russia include a large steel producing complex encompassing the entire production chain, from preparation of iron ore to downstream processing of rolled steel. MMK turns out a broad range of steel products with a predominant share of high-value-added products. In 2016, the company produced 12.5 million tonnes of crude steel and 11.6 million tonnes of commercial steel products. MMK Group had sales in 2016 of USD 5,630 million and EBITDA of USD 1,956 million.

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