The Russian steelmaker’s crude steel production in Q1 2021 increased by 9.2pc to 3.3mn mt compared to 3mn mt in Q1 2020 while it dropped by 0.4pc from 3.31mn mt in Q4 2020. Pig Iron production in Russia also rose by 9.2pc to 2.57mn mt in the first quarter of the year compared to 2.3mn mt in the same quarter last year and was up by 2pc from 2.52mn mt in Q4 2020.
The company’s Iron ore output in Russia declined by 4pc in the first three months of the year to 631,000mt compared to 658,000mt in Q1 2020 and dropped by 1pc from 638,000mt in the previous quarter. The company’s coal concentrate output grew by 0.2pc in Q1 2021 to 815,000mt from 814,000mt in Q1 2020, and it fell by 2.6pc from 837,000mt in Q4 2020.
MMK’s finished products output in Russia and Turkey of slab, long and flat products and others saw a 5.8pc combined growth in the first quarter of the year to 2.9mn mt compared to 2.7mn mt in the same period in 2020 while it declined by 4.6pc from 3mn mt in Q4 2020.
Total sales of finished steel products in Russia increased by 9.8pc to 2.8mn mt in Q1 2021 annually, while it decreased by 2.7pc from the previous quarter. Turkey’s sales of finished steel products saw a 17pc to 196,000mt in the first quarter of the year compared to the same period last year while it declined by 10.9pc from Q4 2020.
MMK projects that increased domestic demand and the beginning of construction season in Russia will boost the company’s sales in Q2 2021. Additionally, the company’s cold-rolling mill 1700 will be commissioned soon, which will also help to further increase the company’s sales in the second quarter of the year.
The company has set out some additional operational measures under its updated strategic initiative, which is expected to improve its profitability in the second quarter, it stated.