Magnitogorsk Iron and Steel Works is the first among Russian manufacturers of galvanized and coated rolled metal. The rating on the results of the H1 was published in the “Metallosnabzheniye i sbyt” magazine. Last year MMK also headed the rating. In mid-July the works put into operation the continuous galvanizing machine No. 3 with the…
Schneider Electric has finished modernization of the automatization and electricity supply system in the smoke exhaust department of the oxygen-converter shop of Magnitogorsk Iron and Steel Works. This allowed MMK to decrease electricity consumption by 36% and provide for faultless operation of the important technological site. “This is the first project of energy efficiency improvement…
In April-June MMK increased steel output by 3.8% QoQ, to 3.182 million tons. Capacities were 90% loaded. Pig iron manufacture increased by 8.7% QoQ, to 2.578 million tons. The growth has to do with the scheduled repair of blast furnace No. 10 in Q1. Sales in Q2 reached 2.882 million tons, up by 5.9% QoQ,…
On July 13 the rating agency Fitch Ratings upgraded the Magnitogorsk Iron and Steel Works’s Long-Term Issuer Default Rating (IDR) to ‘BBB-‘ from ‘BB+’ with Stable Outlook. In its press-release Fitch notes that the rating upgrade reflects MMK’s substantial deleveraging and Fitch’s view that the company’s financial profile will remain conservative, with projected leverage comfortably…
Steel output of Russia’s Magnitogorsk Iron and Steel Works (MMK) increased by 3.8% QoQ, to 3.182 million tons in April-June, the company said in a statement July 17. In January-June, steel production rose by 0.6% YoY, to 6.248 million tons. Metal products sales fell by 3.2% YoY, to 5.605 million tons, in January-June, but increased…
PJSC Magnitogorsk Iron and Steel Works has completed the reconstruction of gas-purifying plants at the mill’s electric-furnace melting shop with CAPEX of more than RUB 1.3 billion. The gas purifying plants are now almost 100% efficient. Over the course of the project, two old wet gas-purification systems, No. 32 and No. 33, were replaced with…
PJSC Magnitogorsk Iron and Steel Works has completed the construction of aspiration systems for casting beds at blast furnaces No. 9 and No. 10. The project with CAPEX of over RUB 1 billion allows dust emissions to be almost completely disposed of, decreasing the emissions 50-fold. The aspiration system for casting beds at blast furnace…
The ministry of economic development of Chelyabinsk region and MMK-Metiz have concluded an agreement on the “Modernization of metal wares manufacture” project aimed at producing 39 billion rubles worth of wares by 2025. Under the contract MMK-Metiz will invest not less that 2.9 billion rubles into the project, produce and sell at least 39 billion…