PJSC Magnitogorsk Iron & Steel Works (MMK) – one of the world’s largest steel producers, announced its trading update for Q4 and CY 2019. The group’s crude steel output declined by 1.6% Y-o-Y to 12.46 MnT in CY19 due to decreased demand for steel as a result of the reconstruction of Mill 2500. Total sales of finished products was registered 11.3 MnT, down 3% Y-o-Y.
The company’s crude steel output was down by 3.9% Q-o-Q to 3.07 MnT, due to the seasonal decline in demand. MMK Group’s total sales of finished products totalled 2.78 MnT, down 4% Q-o-Q
In the end of Q4 CY19, there was a recovery of prices on the global market for hot rolled steel amid an increase in consumer demand, with shipments being scheduled for early 2020. The improved export prices environment resulted in growth in spot prices for hot-rolled steel in Russia in Jan’20. However, the growth rate was slower compared to the global market due to seasonal factors.
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MMK Trading Update Q4 2019 and CY19 (in thousand tonnes) |
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| Q4 2019 | Q3 2019 | Change (%) | CY 2019 | CY 2018 | Change (%) | |
| Crude steel production | 3,070 | 3,194 | -3.9 | 12,463 | 12,664 | -1.6 |
| Pig iron production | 2,604 | 2,560 | 1.7 | 10,013 | 9,860 | 1.6 |
| Iron ore production | 678 | 646 | 5 | 2,769 | 3,185 | -13.1 |
| Finished products sales | 2,781 | 2,897 | -4 | 11,316 | 11,664 | -3 |
MMK Group is a leading metals company based in Russia and one of the largest in the world. In 2018, the company produced 12.7 MnT of crude steel and 11.7 MnT of commercial steel products.
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