MMK announces its Trading Update for Q4 and 12M 2023

Pig iron output decreased by 7.5% quarter-on-quarter (q-o-q) to 2,416 thousand tonnes due to overhaul of blast furnace No. 8.

Steel output totalled 3,116 thousand tonnes, down by 7.1% q-o-q due to overhaul of basic-oxygen furnace at the Magnitogorsk production site.
Group sales of metal products declined by 5.7% q-o-q and totalled 2,891 thousand tonnes, reflecting the impact of overhauls of blast furnace, basic-oxygen furnace and rolling capacities. Sales of premium products decreased q-o-q and totalled 1,195 thousand tonnes due to lower sales of cold-rolled, galvanised and colour-coated steel amid overhauls of rolling capacities. The share of premium products in the sales portfolio declined to 41.3%.
Coal concentrate production was down by 6.9% to 810 thousand tonnes, as a result of lower coal processing due to seasonal factors.

Pig iron output was up by 9.5% year-on-year (y-o-y) to 9,943 thousand tonnes due to lower blast furnace overhauls duration compared to the previous year.
Steel output increased by 11.1% y-o-y to 12,985 thousand tonnes, reflecting the favourable conditions on the Russian market. Steel output at the Magnitogorsk facilities grew by 16.8% y-o-y to 12,605 thousand tonnes, while steel production at the Turkish asset decreased by 57.4% y-o-y to 381 thousand tonnes as a result of ongoing challenging macroeconomic headwinds in Turkey.
Group sales of metal products was up by 11.1% y-o-y to 11,784 thousand tonnes, reflecting strong business conditions on the Russian steel market due to robust construction activity and increased demand from automotive and machine-building industries, as well as expansion of sales to neighbouring countries markets. Sales of premium products increased by 7.1% y-o-y to 5,039 thousand tonnes driven by higher sales of cold-rolled, galvanized and polymer-coated steel. The share of premium products in the sales portfolio declined to 42.8%.

Production of coal concentrate slightly decreased y-o-y to 3,481 thousand tonnes.