Russia: MMK’s outlook for Q2 ’21 remains positive

MMK expects steel sales in Q2 to grow further on the back of favourable conditions in global markets coupled with seasonal growth in demand in Russia. Further, the reverse Cold-Rolling Mill 1700 is expected to be commissioned in May ’21, which will positively impact the structure of the Group’s sales portfolio, the company stated. CAPEX for Q2 ’21 is expected to grow q-o-q, in line with the implementation schedule for projects pursued under the Group’s strategy. Operational excellence measures implemented under MMK’s updated strategic initiatives is likely to boost the Group’s profitability in Q2 ’21, it mentioned in its quarterly report.