MMK Group, a Russian steelmaker, has published its operating results for the third quarter and nine months of the current year.
In this quarter, the company's steel output amounted to 2.42 million tons, a decrease of 7.5 percent quarter-on-quarter due to a slowdown in business activity in the Russian market, while pig iron production decreased by 14.9 percent quarter-on-quarter to 2.02 million tons. million tons, mainly due to repairs to its own blast furnace. In addition, sales of MMK steel products in the third quarter amounted to 2.47 million tons, remaining stable compared to the previous quarter, due to a decrease in inventories.
In nine months, the company's steel output amounted to 7.62 million tons, down 13.7 percent year-on-year, primarily due to a slowdown in business activity in Russia amid high interest rates and unfavorable market conditions. In Turkey, pig iron production decreased by 10.6 percent year-on-year to 6.58 one million tons due to the overhaul of blast furnaces. In addition, MMK's metal products sales in January-September amounted to 7.40 million tons, a decrease of 10.4 percent compared to the same period in 2024, due to unfavorable Russian market conditions against the background of macroeconomic factors.
