MMK Group’s total crude steel output up 1.4% year-on-year

Russian steelmaker MMK Group has announced that total crude steel output during Q1 2017 has decreased 2.9% quarter-on-quarter when compared with Q4 2016, but is up 1.4% year-on-year. The company produced 3Mt over the quarter and it’s overall steelmaking capacity utilisation rate for the period exceeded 94%.

MMK’s total finished steel product shipments were 2.7Mt, down 6.7% quarter-on-quarter, and down 2.3% year-on-year.

HVA steel product output was 1.3Mt, down 1.2% quarter-on-quarter, but up 5.1% year-on-year. The share of HVA products in total output rose to 48.2%.

Q1 production of coal concentrate by Belon was 609kt, down 17.1% quarter-on-quarter.

The company's CEO Pavel Shilyaev and director for economics Andrey Eremin will be in London later this month outlining the company's Strategy 2025 and its financial results.