MMK produced 11.19 million tons of steel in 2024

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AK&M 23 January 2025 14:29

MMK produced 11.195 million tons of steel in 2024, which is 13.8% less than a year earlier. The main reasons were: a reduction in steel demand at the beginning of the year due to repairs in the rolling mill, a more extensive repair program in the blast furnace, and a slowdown in business activity in the second half of 2024. This is stated in the company's message.

Pig iron smelting amounted to 9.49 million tons, a decrease of 4.5%. Sales of metal products across the group decreased by 9.8% to 10.622 million tonnes due to major repairs of rolling equipment at the beginning of the year and a slowdown in business activity in the second half of 2024. Sales of premium products amounted to 4,713 thousand tons.

Coal concentrate production decreased by 25.7% to 2.587 million tons due to lower production due to MMK's reduced demand for coal concentrate and difficult mining and geological conditions.

Magnitogorsk Iron and Steel Works PJSC (TIN 7414003633) is a steel manufacturer. The company's assets in Russia are a metallurgical complex with a full production cycle, starting with the preparation of iron ore raw materials and ending with the deep processing of ferrous metals.

MMK Group's revenue for the first 9 months of 2024 increased by 8.2% to RUB 602.83 billion. compared to a year earlier. EBITDA decreased by 8.7% to RUB 129.7 billion. Net profit decreased by 20.4% to 67.8 billion rubles.