The Russian MMK Group (Magnitogorsk Iron & Steel Works) has issued a trading update for Q2 and H1 of 2014.
Q2 crude steel output for the group totalled 3.3Mt, up 6.3% quarter-on-quarter. Finished steel shipments were up 10.6% to 3.2Mt for the quarter and up by 8.1% for the first six months of 2014.
High value-added steel products output was up by 11.9% in Q2 at 1.4Mt. HVA products as a share of total volume was 44.4%.
Production of Belon coal concentrate in Q2 decreased 5.6% quarter-on-quarter to 672kt.
Looking ahead to Q3 2014, the company is claiming that a seasonal slowdown in business activity domestically and holidays in the Middle East will mean 'slightly lower' sales volumes quarter-on-quarter.