Magnitogorsk Iron and Steel Works has finished the reconstruction of the sulfur-recovery machines in the sinter factory No. 2. According to the company information, the sulfur-recovery system of the sinter factory No. 2 provides for the 95% purification of gases. The first purification system was put into operation in 2015, the second and the third…
Tashkent has become a host to the UzBuild-2017 international construction exhibition. MMK is one of the participants. The company presents products for construction, including bars, cold- and hot-rolling sheet, galvanized metal and metal with coating, as well as metal wares. Among the new products are the high-strength and wear-resistant steel, manufactured under MagStrong brand. In…
MMK-Metiz under the program of product range increase started producing LB-52MK electrode with 2.6 mm diameter. Now the company produces such electrodes in 4 diameters: 3.2, 4, 5 and 2.6 mm. MMK-Metiz has been producing a wide range of welding materials since 1949. Its welding shop can produce 35 electrode grades. (Ukrainian metal)
In January, according to the railways statistics, direct deliveries of ferrous scrap to the Magnitogorsk Iron and Steel Works totaled 98 thousand tons. This is down by 42.7% MoM, but up almost 5 times YoY. This is also the highest result for January for the last 10 years. And MMK is still the leader in…
Traders working with MMK report that the management of the company’s sales services plans to review the earlier announced March prices on flat rolled metal by increasing them by 2-3%. The increase is explained by the sharp rise of raw materials prices and the world market rolled metal price growth. The increase in prices for…
Russia’s Magnitogorsk Iron and Steel Works may allocate 60% of its free cash flow on dividends for July-December 2016, the company said in a statement. “On the back of strong profitability and lower debt load, the company’s management decided to recommend that the board of directors pay dividends representing 60% of free cash flow for…
In 2016 MMK increased its net profits 2.5-fold YoY, to $1.111 billion. According to the company statement, its free cashflow totaled $728 million. EBITDA increased by 17.3% YoY, to $1.956 billion. Company revenues dropped by 3.6% YoY, because of the low sale prices. This year MMK forecasts the increase in steel demand in Russia by…
MMK has presented information about its industrial park. Special sections contain important data for existing and future residents of the industrial park, in particular, lease calculator, free are, transport infrastructure, etc. “The implementation of the project will help residents of the park integrate into the technological chain of MMK. We are prepared to offer help…