MMK's main indicators for the first quarter of 2016

In the first quarter of 2016, the total steel production of the MMK Group reached 3,025 thousand tonnes, which is 4.4 percent higher than in the fourth quarter of 2015, but 6.3 percent lower than in the first quarter of 2015.

In the first quarter of 2016, the total steelmaking capacity utilization at the main site in Magnitogorsk increased to 88 percent from 80 percent in the fourth quarter of last year.

During the first quarter of this year, the total shipments of MMK's commercial products (excluding internal turnover) increased by 4.5 percent compared to the fourth quarter, but decreased by 5.4 compared to the first quarter of 2015, and amounted to 2 788 thousand tons. The decrease in the level of shipments in relation to the first quarter of last year is explained by the very high level of sales in the same quarter last year, against the backdrop of high inflationary expectations.

In the MMK Group, the output of HVA products in the first quarter of 2016 amounted to 1,249 thousand tons, but the share of these products amounted to 44.8 percent, slightly decreasing compared to the previous quarter.

Production of Belon coal concentrate in the first quarter of 2016 amounted to 794 thousand tonnes, unchanged from the previous quarter. At the same time, the growth in the production of coal concentrate reached 33.7 percent compared to the level of the corresponding quarter of the last year.