In 2016 Magnitogorsk Iron and Steel Works could receive $1 billion of net profits.
Experts believe that the net profits will total $814, with EBITDA at $1.5 billion.
In H1 MMK earned $486 million of net profits. Q3 results are on par with Q2, and MMK prices went up by 5%. Even though in Q4 the company will be buying coal at a higher price that will not greatly affect the financial results.
The previous time when MMK got such a high profit was in 2008 – $1.08 billion.
Last year the company received $421 million of net profits. (Ukrainian metal)