MMK export steel shipments down by 52% in Q1 2019

Russia’s Magnitogorsk Iron & Steel Works (MMK) reduced its export sales in the first quarter of 2019 by 52% due to repairs at a rolling mill as well as reallocation of shipments to the home market, the company said on Monday April 16.

In January-March of this year, the company cut exports by 15% year-on-year to 290,000 tonnes, against 605,000 tonnes over the corresponding period last year. Traditionally, most of the exported steel would have been hot-rolled coil (HRC). In 2018, from a total export volume of 2.38 million tonnes, around 1.95 million tonnes, or 82%, was HRC, a source inside the company told Fastmarkets. The reduced availability of HRC from the producer in the first quarter supported export prices after...

Published

Vlada Novokreshchenova

April 17, 2019

13:52 GMT

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