MMK sales in the second quarter increased by 11% qoq

MOSCOW, July 18 (Reuters) – Russian steelmaker MMK increased steel production and sales in the second quarter compared with the first, the company said.

Steel production increased by 13.0% q/q to 3.457 million tons driven by strong demand in Russia and CIS markets in the reporting quarter, as well as a partial recovery in business activity in Turkey, where the company’s plant is located.

Sales of steel products increased by 11% to 3.065 million tonnes q/q thanks to favorable market conditions. (Anastasia Lyrchikova)


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