Overall results of January-April 2007

MMK continues to report stronger operating indicators, including a 8.8% improvement in output of rolled products to over 4 mln tn in January-April, 2007. The steelmaker is perfectly capable of turning out 12 mln tn of rolled products by year-end 2007.

Magnitogorsk Metallurgical Plant (MMK) boosted steel production 10.4% y-o-y to 4.3 mln in the first 4 months of 2007. Also, output of rolled products climbed 8.8% y-o-y to 4.14 mln tn and finished ore 27.2% to 560,2 thou tn. However, production of sinter fell 8% to 3.36 mln tn, coke 5.9% to 1.76 mln tn and cast iron 4.8% to 3.1 mln tn.

In addition, MMK turned out 3.95 mln tn of commercial-grade metal products in January-April 2007, up 11.9% y-o-y. The metal maker’s export sales slumped to 38.6% of total revenues in the first 4 months vs 50.8% in the year-earlier period.