Russia: MMK Records Highest Ever Steel Shipments to Automotive Industry

In CY19, Magnitogorsk Iron and Steel Works' (MMK) deliveries of steel products to manufacturers of automotive equipment and components in Russia and the CIS exceeded 650,000 MT, setting a new record for the company. Out of this, 605,000 MT was sold to companies in Russia ( up 8% Y-o-Y) and 53,000 MT to countries in the CIS ( up 37% Y-o-Y).

MMK's sales of rolled metal products to the automotive industry have set a record for the second year in a row. In CY17, MMK sold 565,000 MT of steel products in this segment, and in CY18 that figure amounted to 598,000 MT.

At the end of CY19, MMK's efforts was to expand deliveries to manufacturers of automotive equipment and components allowed the Company to increase its figures again, resulting in sales of more than 650,000 MT.