MOSCOW, February 10. /TASS/. MMK Group lowered steel production by 14% in annual terms to 11.7 mln metric tons in 2022, the Russian steelmaking company reports.

Pig iron casting was lowered by 12.9% to 9.1 mln tons, the company said.

Steel production sales totaled 10.7 mln metric tons at the same time and declined by 14.2% in annual terms in consequence of existing export restrictions, capital repairs of the equipment at the start of the year and on the back of significant slowdown of business activity on international markets.

Export sales of the company plummeted by 55.4% to 1.53 mln metric tons. Sales on the domestic and CIS markets gained 1.3% to 9.2 mln metric tons.