Russia: MMK Reports Decline in Steel Output and Sales in Q1 CY'20
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Russian steel major MMK Steel today announced its trading update for the first quarter of CY'20.
The company reported 1.6% Q-o-Q drop in total steel output, registering 3.02 MnT in Q1 CY'20 due to maintenance work at converter facilities and scheduled reconstruction of hot rolled Mill 2500. And on yearly basis, steel output declined by 2.7% Y-o-Y due to lower steel demand amid scheduled maintenance work at rolling facilities.
MMK Group's total sales of finished products was recorded 2.74 MnT in Q1 CY'20, down 1.3% on both Q-o-Q and Y-o-Y basis.
| MMK Q1 CY'20 TRADING UPDATE ('000 MT) | |||||||
| Q1 CY20 | Q4 CY19 | Change (%) | Q1 CY20 | Q1 CY19 | Change (%) | ||
| Crude Steel Production | 3022 | 3070 | -1.6 | 3022 | 3107 | -2.7 | |
| Pig Iron Production | 2355 | 2604 | -9.6 | 2355 | 2396 | -1.7 | |
| Iron Ore Production | 658 | 678 | -3.0 | 658 | 716 | -8.2 | |
| Coal Concentrate Production | 814 | 721 | 12.9 | 814 | 777 | 4.8 | |
| Sales Volume ('000 MT) | |||||||
| Total Finished Product Sales | 2745 | 2781 | -1.3 | 2745 | 2782 | -1.3 | |
MMK Group is a leading metals company in Russia and one of the largest in the world. In CY'19, the company produced 12.46 MnT of crude steel and 11.3 MnT of commercial steel products.
