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MMK posts 10.6% decrease in steel output for 9M 2024 to 8.83 mln tons

Q3 pig iron output decreased by 10.6% quarter-on-quarter to 2.36 mln ton, while steel production fell by 26.6% to 2.48 mln tons

MOSCOW, October 17. /TASS/. Steel output by Russia’s MMK Group (Magnitogorsk Iron and Steel Works) fell by 10.6% in January-September 2024 year-on-year to 8.83 mln tons, whereas its pig iron production rose lost 2.2% in annual terms to 7.36 mln tons, the company reported.

Sales of metal products made by MMK Group amounted to 8.26 mln tons in 9M 2024, down by 7.1% year-on-year.

Q3 pig iron output decreased by 10.6% quarter-on-quarter to 2.36 mln ton, while steel production fell by 26.6% to 2.48 mln tons.

Sales of metal products by the group went down by 18.7% in Q3 quarter-on-quarter to 2.48 mln tons.

MMK is one of the largest global steel producers. Its operations in Russia include a steel producing complex encompassing the entire production chain, from preparation of iron ore to downstream processing of rolled steel.