MMK Raises Steel Output 6.8%

31 January 2012 (09:23)

Magnitogorsk Iron & Steel Works (MMK) carried a performance report for the last quarter of 2011 and for the entire year.

In 2011, the company’s production output rose by 6.8% and reached 12.2m tons of goods; the enterprise’s cast iron output increased by 2.8% and came to 9.5m tons.

2.5% more of goods with high value-added was manufactured in 2011 compared with 2010: the figure came to 4.07m tons. All in all, the company also produced significantly more finished metal goods: the manufacturing volumes rose by 7.2% against the year 2010 and amounted to 11.16m tons by the end of 2011.

InvestCafe’s analyst Pavel Yemelyantsev points to MMK switching from the production of galvanized rolled products to manufacturing rolled goods with polymeric coating (a more marginal product type).

‘I feel this policy is quite justified and will, in the long run, yield goods profits to the company,’ the expert said.

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