Russia: MMK’s steel output remains flat q-o-q in Q1 CY ’21

Russian steel producer MMK Group has released its quarterly results of the first quarter of CY ’20. Let’s take a look at the operational highlights:

• Steel output remained largely flat q-o-q, reflecting favourable market conditions. The same increased by 9.2% y-o-y.
• Sales of finished products decreased by 4.6% q-o-q due to the build-up of metal products inventories ahead of the construction season.
• Pig iron output increased to 2.57 mn t, driven by the continuing high steel demand.