MMK high value-added goods go up 44%

27 January 2011 (14:12)

UrBC, Magnitogorsk, Chelyabinsk Region, January 27, 2011. Magnitogorsk Iron & Steel Works (MMK) raised its steel output by 19% last year compared with a year earlier; the output figures thus reached 11.419 million tons, the company reports. MMK’s commodity output rose by 17% and reached 10.245 million tons.

Last year, MMK made 3.448 million tons of goods with high added value, which was 44% better than in the year 2009. MMK Group’s share of metal products with high added value came to 38% of its total annual output (against 31% in 2009) and to 42% of all the metal goods produced in the last quarter of 2010, which was the company’s best-ever result.

‘MMK remained Russia’s leading rolled metal goods manufacturer last year. According to our estimates, the company’s share in the total domestic rolled metal goods output reached 17% in 2010. Our home sales went up by 44% and were actually higher than the home consumption growth figures. This was possible in large part due to the launch of some new highly profitable product varieties that met the domestic demand and partially replaced their imported counterparts. We are quite optimistic about the Russian demand for metal goods in 2011 and we are hoping to raise our home output to 12 million tons this year,’ says MMK Vice President for Finance & Economics Oleg Fedonin.

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