9,807.50 TRY BIST 100 BIST 100
36.37 USD USD USD
5.04 CNY CNY CNY
38.11 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
39.46 TRY Interest Interest
76.31 USD Fossil Oil Fossil Oil
33.10 USD Silver Silver
4.62 USD Copper Copper
106.70 USD Iron Ore Iron Ore
351.00 USD Shipbreaking Scrap Shipbreaking Scrap
3,437.60 TRY Gold (gr) Gold (gr)

MMK announces first quarter results for 2024

PJSC Magnitogorsk Iron and Steel Works announced the operating results for the first quarter of 2024.

MMK announces first quarter results for 2024

According to the company's press service, the main indicators were compared with the fourth quarter of 2023, steel production in the first quarter of 2024 decreased by 4.7% to 2,970 thousand tonnes due to seasonal factors. Pig iron production also decreased by 3.0% to 2,345 thousand tonnes due to the ongoing maintenance of the blast furnace. Sales of the Group's steel products decreased by 5.5% to 2,731 thousand tonnes, reflecting the impact of the blast furnace and rolling mill repair programme. Sales of premium products decreased by 12.0% to 1,051 thousand tonnes, mainly due to lower production of cold rolled and coated products during the repair programme. The share of premium products in the sales portfolio decreased to 38.5%. Coal concentrate production decreased by 9.9% to 730 thousand tonnes due to the increase in the ash content of coal raw material.

Comparing the figures with the first quarter of 2023, pig iron production remained at the same level as last year, while steel production decreased by 2.9%. Sales of steel products across the Group decreased by 1.1% to 2,731 thousand tonnes. Sales of premium products decreased by 10.4% due to the impact of repairs on the production of cold rolled and coated products, as well as lower sales of thick plate from rolling mill 5000. Coal concentrate production fell by 14.9 %.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Black Sea pig iron prices drop to lowest level since 2020

Thursday, February 20, 2025

Eurozone growth uncertainty persists as PMI drops to 50.2

Saturday, February 22, 2025

Increase in steel imports in Iran: HRC stands out

Friday, February 21, 2025

Türkiye's imported scrap market approaches March cautiously

Friday, February 21, 2025

EU considers tightening steel import quotas due to Trump's new tariffs

Saturday, February 22, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now