Russian metallurgical group MMK announced operating and financial results for the second quarter and first half of 2026, indicating a recovery in steel production and sales compared to the previous quarter amid seasonal growth in demand, while lower selling prices continued to put pressure on the financial results of the first half.
In the second quarter, MMK's pig iron production decreased by 4.8% compared to the previous quarterly to 2.27 million tons due to the overhaul of blast furnaces, and steel production increased by 12.2% to 2.75 million tons. The company's finished steel sales rose 23.5 percent to 2.78 million tonnes amid a gradual recovery in business activity, while sales of premium products increased 25.8 percent to 1.14 million tonnes, supported by improved demand from the construction sector, with their share of total sales rising to 41.1 percent. Meanwhile, coal concentrate production fell 2.6 percent to 767,000 tons.
In the first half, MMK's pig iron production increased 2.0 percent year-on-year to 4.65 million tons due to fewer blast furnace repairs, while steel production remained stable at 5.19 million tons. Finished steel sales rose 2.1 percent to 5.02 million tons, reflecting higher shipments of semi-finished products, long products and premium products despite lower sales of hot products, while sales of premium products increased 2.3 percent to 2.05 million tons on stronger sales of cold-rolled, coated and tubular products.
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