Metal product sales of ММК Metalurji, a Turkish affiliate of Russia’s Magnitogorsk Iron and Steel Works (MMK), decreased by 15.9% QoQ, to 158,000 tons in October-December 2019 due to a tough market situation, MMK said in a statement on January 21.
In the whole of 2019, the sales fell by 6.2%, to 720,000 tons, it said.
The plant produced 78,000 tons in October-December 2019, down by 5% QoQ, and 376,000 tons of metal products in 2019, down by 26.8%.
MMK built the 2.3-million ton facility to cement its position in the Middle East and the Mediterranean region in 2011. (Prime/Ukrainian metal)