9,659.48 TRY BIST 100 BIST 100
5.24 CNY CNY CNY
40.78 EUR EUR EUR
37.92 USD USD USD
0.13 CNY CNY/EUR CNY/EUR
46.25 TRY Interest Interest
74.48 USD Fossil Oil Fossil Oil
33.77 USD Silver Silver
5.04 USD Copper Copper
102.21 USD Iron Ore Iron Ore
356.00 USD Shipbreaking Scrap Shipbreaking Scrap
3,803.99 TRY Gold (gr) Gold (gr)
9,659.48 TRY BIST 100 BIST 100
5.24 CNY CNY CNY
40.78 EUR EUR EUR
37.92 USD USD USD
0.13 CNY CNY/EUR CNY/EUR
46.25 TRY Interest Interest
74.48 USD Fossil Oil Fossil Oil
33.77 USD Silver Silver
5.04 USD Copper Copper
102.21 USD Iron Ore Iron Ore
356.00 USD Shipbreaking Scrap Shipbreaking Scrap
3,803.99 TRY Gold (gr) Gold (gr)
9,659.48 TRY BIST 100 BIST 100
5.24 CNY CNY CNY
40.78 EUR EUR EUR
37.92 USD USD USD
0.13 CNY CNY/EUR CNY/EUR
46.25 TRY Interest Interest
74.48 USD Fossil Oil Fossil Oil
33.77 USD Silver Silver
5.04 USD Copper Copper
102.21 USD Iron Ore Iron Ore
356.00 USD Shipbreaking Scrap Shipbreaking Scrap
3,803.99 TRY Gold (gr) Gold (gr)

MMK Group announces operating results for 2Q 2023

PJSC Magnitogorsk Iron and Steel Works, announces operating results for 2Q 2023.

MMK Group announces operating results for 2Q 2023

Sales of the Group's steel products amounted to 3,065 thousand tonnes, up 11.0% qoq on the back of favorable domestic market conditions and growth in sales of the Turkish asset due to partial recovery of demand in the market of Turkey after the February earthquake. Sales of premium products increased by 13.5% to 1,332 thousand tons due to a seasonal increase in demand for cold-rolled and galvanized and color-coated steel from the metalworking and construction sectors. The share of such products in the sales portfolio increased to 43.4%.

Steel output grew by 13.0% q-o-q to 3,457 thousand tonnes reflecting steady demand on the Russian and neighbouring countries’ markets as well as the partial recovery in business activity in Turkey in Q2 2023.

Pig iron output increased by 9.6% quarter-on-quarter (q-o-q) to 2,569 thousand tonnes due to the completion of overhauls of blast furnace facilities.

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