Russian steel maker MMK announced Trading Update for Q3 and 9M of 2021.

Q3 HIGHLIGHTS

Pig iron output decreased slightly, by 0.6% QoQ to 2,624 thousand tonnes

Steel output remained flat QoQ at 3,390 thousand tonnes, reflecting favourable market conditions and the launch of the electric arc furnace facility at the Turkish asset

MMK Group’s sales of steel products totalled 2,761 thousand tonnes, down 16.8% QoQ, driven by an increase in exports with longer delivery lead times.

Sales of the Group’s premium products were down 12.1% QoQ to 1,224 thousand tonnes, driven by the scheduled overhaul of Mill 5000 and growth in exports of cold-rolled and galvanised steel with longer delivery lead times.

MMK Coal’s coal concentrate production moderately declined QoQ to 867 thousand tonnes.

9M HIGHLIGHTS

Pig iron output increased by 14.8% YoY to 7,836 thousand tonnes as blast furnace operations were not being overhauled during this period

Steel output increased by 22.1% YoY to 10,091 thousand tonnes, as no overhauls took place at converter facilities, as well as the completion of Hot-Rolling Mill 2500’s modernisation

MMK Group’s sales of finished products increased by 16.5% YoY to 8,985 thousand tonnes, driven by favourable market conditions and the high utilisation rate of Mill 2500 after its modernisation

Sales of premium products slightly decreased YoY to 3,770 thousand tonnes on the back of the scheduled overhaul of Mill 5000

Production of coal concentrate increased by 15.1% YoY to 2,557 thousand tonnes, driven by stronger demand from MMK amid favourable market conditions.

MMK Trading update for Q3 & 9M of 2021

Strategic Research Institute

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