Another plant to produce high-strength steel wire will be constructed in the MMK industrial park. MMK, MMK-Metiz, MMK-Industrial Park and Terwingo LLC have signed an agreement on cooperation. The agreement presupposes the joint work to create the manufacture of wire products. Investments in the project are estimated at 8 billion rubles. The new manufacture is…
This year MMK intends to increase sales on domestic market by 5% YoY, to 8.1 million tons. Despite the drop of prices, the Russian market has demonstrated a better price dynamics compared with foreign markets. “Due to the dynamic demand growth and drop of imports, the balance of demand and supply has improved on the…
The Comprehensive Air Quality Index (CAQI) indicator for Magnitogorsk has almost halved over the past two years, official data shows, indicating a 2-fold improvement in air quality. The reading is the lowest in the history of Magnitogorsk. MMK has spent more than 21 billion rubles on environmental measures since 2017. The CAQI for the city…
In July-September MMK received $271 million of profit, down by 32% YoY. Revenue dropped by 4%, to $2.009 billion, and EBITDA – by 22%, to $525 million. In January-September profit decreased by 28% YoY, to $768 million. Revenue fell by 6.5%, to $5.844 billion, and EBITDA – by 22%, to $1.462 billion. (Ukrainian metal)
At the headquarters of Magnitogorsk Iron and Steel Works (MMK), the Magnitogorsk section of the conference “Best Available Technology in Blast Furnace Production” will take place. The conference was organized by the Russian Steel association, the International Union of Metallurgists and the magazine Eurasian Metals, with support from the Russian Ministry of Industry and Trade.…
Magnitogorsk Iron and Steel Works (MMK) has successfully completed the first stage of a large-scale project to implement a unified corporate information system (CIS) based on Oracle R12 for the group’s organizations. The two organizations transferred to MMK’s unified corporate system were United Service Company (which provides a range of maintenance and repair services) and…
Magnitogorsk Iron and Steel Works (MMK) and Chelyabinsk Pipe-Rolling Plant (ChelPipe) held their 25th coordination council, dedicated to cooperation between the two companies. The meeting was attended by MMK Deputy General Director for Sales Sergey Ushakov, Director for Procurement and Logistics of ChelPipe Alexey Talnikov, as well as representatives of the technical, production and commercial…
In January-September MMK decreased steel output by 1.7% YoY, to 9.392 million tons. Pig iron manufacture grew by 1.5%, to 7.409 million tons. Overall sales in 9 months dropped by 2.2%, to 8.535 million tons. HVA sales totaled 4.181 million tons, up by 2.6%. Their share increased to 49%. Sales of galvanized rolled metal went…