Russian steelmaker Magnitogorsk Iron & Steel Works MMK Trading House’s Director Mr. Grigory Shchurov shared the company’s results for 2022 and plans for 2023 at the 16th All-Russian Conference “Regional Steel Trading in Russia”. Despite the difficulties caused by the economic sanctions against Russia and the reduced demand and lower prices for steel products, MMK Trading House succeeded in adapting to the new market conditions, increasing its sales by 3.2% and its market share from 9.6% to 11% in 2022, said Mr. ShchurovAmong growth factors, Mr. Shchurov mentioned the geographic expansion of operations, the improvement of services and the increase in sales on the company’s electronic trading platform. In 2022, MMK Trading House opened three new separate divisions in Orenburg, Kurgan and Astrakhan, as well as four retail warehouses in Magnitogorsk, Ufa, Sibay and Moscow. The company has plans to open 14 more new warehouses.MMK’s corporate marketplace almost doubled its sales in 2022, from 16,800 tonnes to 30,500 tonnes. The number of registered customers exceeded 5,000. The next stage in the development of the marketing platform involves integration with other online stores, the development of a mobile application, an option for customers to take out a loan or a bank guarantee, as well as new payment methods including quick payment system, QR codes, etc. In addition to its own marketplace, the company started selling hardware products on the OZON marketplace.The company’s goals for 2023 include, according to Mr. Shchurov, the opening of new retail and warehouse facilities which will increase sales this year by 10% compared to 2022, and by 35% by 2025 compared to 2023. These goals cannot be achieved without expanding the company’s regional presence and increasing the number of customers. MMK Trading House plans to open two new divisions in 2023 and to reach 42 of them by 2025.