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News

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Magnitogorsk iron and steel works on the results of pig iron and steel metal for the second quarter of 2017.

In the Magnitogorsk metallurgical plant in the second quarter of this year increased pig iron and steel metal.

Thus, the growth of production amounted to 8.7% and growth in steel production amounted to 3.8%.

Total for the second quarter of this year were shipped 2 million 780 thousand tons of marketable metal product. The increase in the shipment of the finished product over this period amounted to 4%.

The increase in the production of iron and steel metal due to the fact that the metallurgical plant completed the repairs of the rolling production capacity. Also on the growth of production was affected by the increase in demand in the domestic market.

So, at the expense of demand for metal products in the Russian market in the second quarter of this year, the plant was able to increase sales by 8.8%. Total sales of finished product produced by the plant, in the domestic market accounted for nearly 74.8 per cent.

The average cost of the finished product of the metallurgical plant for the period decreased by 3% compared to the previous quarter of this year. The cost of one tonne of finished product amounted to 556 dollars. Reducing the cost associated with the decrease in international cost of raw products.

Magnitogorsk metallurgical plant, it was noted on the seasonal resumption of demand for final goods used for the construction industry. In the opinion of management of the plant, the demand for this product used in construction will be increased in the third quarter of this year.

Steel mill hopes to increase profits in the third quarter due to the increase of growth of sales of commercial product, lower prices for raw materials, enhance the growth of the export value.

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