9,031.82 TRY BIST 100 BIST 100
4.79 CNY CNY CNY
34.51 USD USD USD
36.34 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
42.50 TRY Interest Interest
72.97 USD Fossil Oil Fossil Oil
31.21 USD Silver Silver
31.21 USD Copper Copper
99.42 USD Iron Ore Iron Ore
365.00 USD Shipbreaking Scrap Shipbreaking Scrap
2,945.15 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

A new era begins in the Indian steel sector

Thursday, November 21, 2024

China's HRC, CRC and rebar production decreased y-o-y in October

Thursday, November 21, 2024

HRC prices decline from China to Middle East

Thursday, November 21, 2024

EU construction decreased in september

Thursday, November 21, 2024

Iranian analyst Keyvan Jafari Tehrani shared the effects of world politics on the steel industry

Thursday, November 21, 2024
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